By: Africa 24

The Africa Finance Corporation (AFC) has announced the inauguration of an expanded Cabeolica Wind Farm and a new Battery Energy Storage System (BESS) in Cabo Verde, a project accelerated by a €55 million bridge loan from AFC in 2024. Officiated by Prime Minister Ulisses Correia e Silva, the expansion adds 13.5 MW of wind capacity and 26 MWh of battery storage, significantly enhancing grid stability and renewable energy integration across four islands.

AFC has been the majority investor in Cabeolica since 2010, supporting its growth into a cornerstone of Cabo Verde's energy system. The existing wind farms have supplied about 25% of the country’s electricity and offset over 560,000 tonnes of CO₂ emissions. The new BESS, expected to reach nearly 30 MW of storage by early 2026, is already improving frequency regulation and reducing renewable energy curtailment, helping Cabo Verde lower its dependence on imported fossil fuels.

AFC President & CEO Samaila Zubairu stated that the project demonstrates AFC's role as a catalytic financier and solutions provider for Africa's energy transition. The bridge financing enabled rapid construction ahead of long-term funding from institutions like the African Development Bank and European Investment Bank. AFC continues to champion replicable renewable energy models across the continent, recently supporting the 200 MW Ras Ghareb Wind Farm in Egypt through its portfolio company Infinity Power.