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Project ID: P170236
Renewable Energies and Energy Efficiency Improvement in Public Services Project
Project Area
Energy
MANAGEMENT UNIT
Special Projects Management Unit
Effective Date
15/11/2021
Closing Date
31/12/2026
Status
Ongoing
Total Amount
$16,500,000.00 (USD)
1.666.500.000,00 CVE
Inicial Amount
$16,500,000.00 (USD)
1.666.500.000,00 CVE
Additional Value
$0.00 (USD)
0,00 CVE
1%
% Execution
Goal
The Renewable Energy and Improved Energy Efficiency in Public Utilities Project aims to increase renewable energy production and improve the performance of the electricity sector in Cabo Verde by leveraging private financing.
Description
This project fits within the Renewable Energy penetration targets defined in the Energy Sector Master Plan 2018-2040 approved by the Government, of 30% by 2025 and more than 50% by 2030. In this context, the Government of Cabo Verde has negotiated with the International Development Association (IDA) of the World Bank Group its financing for a total amount of USD 16,500,000 (sixteen million US dollars).
Components
Title Goal Beneficiaries Amount In USD
Component 1: Renewable and Efficient Electricity Service
$12,500,000.00 (USD) 1.262.500.000,00 CVE
Component 2: Consulting Services for Restructuring and Privatization of the Electricity Sector
$2,000,000.00 (USD) 202.000.000,00 CVE
Component 3: Project Implementation Support and Technical Assistance
$2,000,000.00 (USD) 202.000.000,00 CVE
Indicators
Project Objective Indicators
Project Component Indicators
Beneficiary Entities
MICE - Ministry of Industry, Commerce and Energy
ARME - Multisectoral Economic Regulation Agency
CERMI - Cabo Verde Renewable Energy Center
Public Services