Cabo Verde is accelerating its journey toward a greener and more sustainable future with significant support from international financial institutions. The World Bank has approved more than $13 million in concessional financing for the countryโs Renewable Energy and Improved Utility Performance Project. This funding is supplemented by grants from Canada and the Global Infrastructure Facility, aiming to speed up the transition to clean energy and ensure reliable electricity access for all citizens.
A key development in this initiative is the expansion of the Cabeรณlica wind farm, led by the Africa Finance Corporation (AFC). The project effectively doubles wind power capacity on Santiago Island, adding 13.5 MW of clean energy to the national grid. In addition, the initiative includes the deployment of battery energy storage systems across four islandsโSantiago, Sal, Boa Vista, and Sรฃo Vicente. These storage systems are essential for stabilizing the grid, allowing the islands to store excess wind energy and use it when needed, particularly during periods of low wind or high electricity demand.
The impact of these efforts is already evident. Cabo Verde has increased its share of renewable electricity from approximately 20% to 30%. This is part of a long-term plan to achieve 100% renewable energy by 2040. Officials note that moving away from costly, imported fossil fuels will help protect the local economy from global price fluctuations and reduce the financial strain on the government.
The World Bankโs involvement goes beyond financing power projects. Support also targets structural reforms within the energy sector, aiming to modernize the utility framework and improve operational efficiency. These measures are expected to attract additional private investment into the renewable energy sector, with projections of over $100 million in new funding.
The project also emphasizes social benefits alongside technical improvements. Nearly 2,000 additional households will gain access to electricity through grid expansion. Job creation is a central focus, particularly within the green economy, and efforts are being made to encourage women to take on technical roles in the energy industry, helping close the gender gap.
With these combined efforts, Cabo Verde is positioning itself as a model for sustainable development among small island nations. By integrating wind and solar energy, deploying battery storage solutions, and promoting social inclusion, the country demonstrates that it is possible to transition to a climate-resilient energy system while fostering economic growth and social progress. These initiatives highlight Cabo Verdeโs commitment to building a sustainable and equitable energy future for its people.
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