Cabo Verde gpc energy

What is the European Union's Global Gateway strategy in Cabo Verde?

This decision falls under the European Union’s Global Gateway strategy in Cabo Verde. 1) Support for Cabo Verde’s energy sector, with Team Europe funding of €159 million provided by the EIB, European Union and Luxembourg. This involves designing and building an electricity generation, grid and storage system up to 2029.

Does Cabo Verde use biomass?

Traditionally, the population of Cabo Verde use biomass as a primary renewable energy resource, which still covers a significant proportion of household energy needs (for cooking), especially in rural areas (55 percent).

Does Cabo Verde have a national electricity master plan?

This investment falls under Cabo Verde’s national electricity master plan 2018-2040, and will reduce the country's dependence on expensive and polluting fossil fuels by 2040. It will also provide new storage capacity for electricity from renewable sources.

How will the European Union help the Cabo Verde government?

The European Union is working with the EIB to provide the Cabo Verde government with €105 million in financing to expand and modernise several of the country’s strategic ports, notably Porto Grande in Mindelo on the island of São Vicente, Porto Novo on Santo Antão and the port of Palmeira on Sal.

How much does electricity cost in Cabo Verde?

Electricity prices in Cabo Verde are amongst the highest in Sub-Saharan Africa. Indeed, residential tariffs have averaged US$0.28/kWh over the past four years but have fluctuated as high as US$0.36/kWh in March 2019 for higher-consuming (>60 kWh/month) residential users.

Why do we invest in Cabo Verde?

The investments show our ongoing effort to position Cabo Verde as a regional leader in technology and renewable energy. They also illustrate our ability to form high-level international partnerships, reflecting global confidence in our vision and policies.