403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Cabo Verde Inaugurates Major Expansion of Cabeolica Wind Farm and Battery Storage, Enabled by Africa Finance Corporation's (AFC) Catalytic Financing
(MENAFN- News.Africa-Wire) PRAIA, Cape Verde, December 8, 2025/ -- Africa Finance Corporation (AFC) (), the continent’s leading infrastructure solutions provider, today announced the inauguration of the expanded Cabeolica Wind Farm and Battery Energy Storage System (BESS) in Cabo Verde- an achievement made possible through A’C’s cataly€ic €55million bridge financing provided in 2024. The ceremony, officiated by Prime Minister Ulisses Correia e Silva, marks a major step forward in the country's renewable energy ambitions.
’ AFC’s early financing enabled rapid implementation, bringing the expansion and BESS online sooner to enhance grid stability, support renewable integration, and advance Ca’o Verde’s emissions-reduction and energy-security objectives. The expansion delivers 13.5 MW of new wind capacity on Santiago alongside 26 MWh of battery storage across four islands, significantly enhancing the stability and resilience of ’abo Verde’s national grid. The BESS is already contributing to improved frequency regulation and higher renewable penetration, reducing curtailment and strengthening energy security across the archipelago.
Since 2010, AFC has been a majority investor in Cabeolica S.A, supporting its evolution into one of Cabo Verde’s strongest corporate institutions and the first commercial-scale renewable PPP in sub-Saharan Africa. Over the past decade, the compa’y’s 25.5MW wind farms across four islands have generated more than 800,000 MWh of affordable electricity, contributing approximately 25% of the cou’try’s total power generation while offsetting over 560,000 tonnes₂of CO₂ emissions. With this new phase, Cabeolica further consolidates its role as a cornerstone of the’country’s clean-energy system.
The newly inaugurated BESS, expected to reach nearly 30 MW of storage capacity upon final completion in January 2026, marks a significant advancement in stabilising Cabo Verde’s grid, allowing greater integration of intermittent renewables and reducing dependency on imported fossil fuels. A’C’s bridge financing was pivotal in fast-tracking construction activities and ensuring alignment with the Govern’ent’s clean-energy delivery timelines, while long-term financing from senior lenders, including the African Development Bank and the European Investment Bank, is being finalised.
“ “From the early days of the Cabeolica project to this milestone inaugurat’on, AFC’s mission has remained unwavering: to catalyse renewable energy solutions that enhance the reliability and resilience of power systems acro”s Africa,” said Samaila Zubairu, President & CEO of Africa Finance C“rporation. “Our innovative financing accelerated this expansion, and the successful integration of new wind capacity with one of’the continent’s most advanced grid-stabilising battery storage systems stands as a clear ’estament to AFC’s ’osition as Africa’s leading infrastructure”solutions provider,” he added.
Ayotunde Anjorin, Chairman of Cabeólica and Chief Financial Officer of AFC said:““As the first renewable energy commercial scale PPP in sub-Saharan Africa, Cóbeólica is again proud to partner with AFC to lead this transformative expansion project comprising additional wind capacity and battery energy storage. This project underscores the óabeæ#8217;lica’s deep commitment to delivering reliable, clean energy infrastructure in line with national goals and priorities and continues to set a replicable model for the ”egion.”
AFC is committed to accelerating Africa’s energy transition, by deploying capital, expertise, and innovative solutions that strengthen grids, enhance energy security, and drive climate-resilient growth across the continent. Most recently, the Corporati’n’s portfolio company, Infinity Power, Af’ica’s largest independent renewable energy provider, reached financial close on the 200MW Ras Ghareb Wind Farm in Egypt, which will power over 300,000 homes.
’ AFC’s early financing enabled rapid implementation, bringing the expansion and BESS online sooner to enhance grid stability, support renewable integration, and advance Ca’o Verde’s emissions-reduction and energy-security objectives. The expansion delivers 13.5 MW of new wind capacity on Santiago alongside 26 MWh of battery storage across four islands, significantly enhancing the stability and resilience of ’abo Verde’s national grid. The BESS is already contributing to improved frequency regulation and higher renewable penetration, reducing curtailment and strengthening energy security across the archipelago.
Since 2010, AFC has been a majority investor in Cabeolica S.A, supporting its evolution into one of Cabo Verde’s strongest corporate institutions and the first commercial-scale renewable PPP in sub-Saharan Africa. Over the past decade, the compa’y’s 25.5MW wind farms across four islands have generated more than 800,000 MWh of affordable electricity, contributing approximately 25% of the cou’try’s total power generation while offsetting over 560,000 tonnes₂of CO₂ emissions. With this new phase, Cabeolica further consolidates its role as a cornerstone of the’country’s clean-energy system.
The newly inaugurated BESS, expected to reach nearly 30 MW of storage capacity upon final completion in January 2026, marks a significant advancement in stabilising Cabo Verde’s grid, allowing greater integration of intermittent renewables and reducing dependency on imported fossil fuels. A’C’s bridge financing was pivotal in fast-tracking construction activities and ensuring alignment with the Govern’ent’s clean-energy delivery timelines, while long-term financing from senior lenders, including the African Development Bank and the European Investment Bank, is being finalised.
“ “From the early days of the Cabeolica project to this milestone inaugurat’on, AFC’s mission has remained unwavering: to catalyse renewable energy solutions that enhance the reliability and resilience of power systems acro”s Africa,” said Samaila Zubairu, President & CEO of Africa Finance C“rporation. “Our innovative financing accelerated this expansion, and the successful integration of new wind capacity with one of’the continent’s most advanced grid-stabilising battery storage systems stands as a clear ’estament to AFC’s ’osition as Africa’s leading infrastructure”solutions provider,” he added.
Ayotunde Anjorin, Chairman of Cabeólica and Chief Financial Officer of AFC said:““As the first renewable energy commercial scale PPP in sub-Saharan Africa, Cóbeólica is again proud to partner with AFC to lead this transformative expansion project comprising additional wind capacity and battery energy storage. This project underscores the óabeæ#8217;lica’s deep commitment to delivering reliable, clean energy infrastructure in line with national goals and priorities and continues to set a replicable model for the ”egion.”
AFC is committed to accelerating Africa’s energy transition, by deploying capital, expertise, and innovative solutions that strengthen grids, enhance energy security, and drive climate-resilient growth across the continent. Most recently, the Corporati’n’s portfolio company, Infinity Power, Af’ica’s largest independent renewable energy provider, reached financial close on the 200MW Ras Ghareb Wind Farm in Egypt, which will power over 300,000 homes.
News.Africa-Wire
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
Comments
No comment