EU announces Cape Verde green energy funding

The EU has announced that it will provide €55 million (£45 million) worth of support to Cape Verde in order to provide green energy, growth and governance, while helping to reduce poverty. Andris Piebalgs, EU development commissioner, announced the funding while visiting the country last week (February 14th).

The support will be provided between the period 2014 to 2020 and will consist of the deployment of a Technical Assistance Facility for Sustainable Energy for All in Cape Verde. This will help to improve energy cooperation and will cover the entire continent of Africa.

The EU facility will provide support to authorities in Cape Verde when it comes to identifying new and sustainable proposals for projects within the energy industry. It will help by sharing best practice and expertise - such as training - that will help the country achieve its goal of providing 50 per cent of its energy from renewable sources by 2020.

Commissioner Piebalgs said: "Renewable energy is something that I am strongly committed to. Energy in Cape Verde is crucial, for education and healthcare, for growth, tourism and even for the supply of water. In short, renewable energy is the country's main route towards growth and development."

Currently the cost of electricity in Cape Verde is incredibly high due to the fact that no fossil fuel resources are available in the country, the commissioner continued. The new facility will help to provide everything that is needed in order to see the country harness the renewable sources that are available to it, such as solar and wind energy generation. This will help to provide reliable and cost-effective energy for the residents of Cape Verde.

Some €51 million was previously granted to Cape Verde by the EU between 2008 and 2013 through the European Development Fund, with additional funding of €10.2 also being made available following a mid-term review. The continuation of funding will also result in new contracts being put in place between Cape Verde and the EU.