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Cape Verde has announced that it will receive US$75.5mn from the European Commission (EC) for the development of renewable energy sources in the island country
Andreas Piebalgs, development commissioner of EU, had announced the funding when he visited Cape Verde recently.
The European Commission is the executive body of the EU, which implements policies and represents the EU in the international arena.
On its part, Cape Verde has reportedly set a target of meeting 50 per cent of its electricity needs through renewable energy sources by 2020.
In addition to supporting Cape Verde’s energy needs, the EU will also open the Technical Assistance Facility for Sustainable Energy for All in the country.
Piebalgs said, “Electricity prices in Cape Verde are sky-high and the country has no fossil fuel resources. The new technical facility will provide expertise and innovative solutions to utilise wind and solar energy in Cape Verde’s islands. This will ensure reliable and cost-effective access to electricity and modern energy services."
The executive added that EU will also assist the Cape Verde government in choosing appropriate energy project proposals.