Cabo Verde has inaugurated a major expansion of its pioneering Cabeolica Wind Farm and Battery Energy Storage System (BESS), a milestone strengthened by Africa Finance Corporation’s (AFC) €55 million bridge financing that fast-tracked delivery and reinforced the island nation’s clean-energy ambitions. The ceremony, led by Prime Minister Ulisses Correia e Silva, marks a decisive step in Cabo Verde’s transition toward stable, renewable, and climate-resilient power.
The latest expansion introduces 13.5 MW of new wind capacity on Santiago, paired with 26 MWh of distributed battery storage across four islands. The advanced BESS is already improving grid frequency regulation, reducing renewable energy curtailment, and supporting greater integration of intermittent power, all critical to strengthening energy security and reducing Cabo Verde’s reliance on imported fossil fuels. The system is expected to reach nearly 30 MW of storage capacity by January 2026, further boosting the resilience of the national grid.
AFC’s early catalytic financing enabled rapid implementation of the project, ensuring the expansion aligned with government timelines for clean-energy delivery and unlocked long-term financing arrangements with institutions such as the African Development Bank and the European Investment Bank.
Since 2010, AFC has held a majority stake in Cabeolica S.A., supporting its transformation into one of Cabo Verde’s strongest corporate entities and positioning it as the first commercial-scale renewable Public-Private Partnership (PPP) in sub-Saharan Africa. Over the past decade, its 25.5 MW wind farms across four islands have produced more than 800,000 MWh of affordable electricity, contributing around 25% of the nation’s total power supply while avoiding over 560,000 tonnes of CO₂ emissions. The new phase cements Cabeolica’s role as a cornerstone of Cabo Verde’s clean-energy transition.
AFC President & CEO Samaila Zubairu said the milestone reinforces the Corporation’s mission to accelerate renewable energy adoption across Africa. “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 systems stands as a clear testament to AFC’s position as Africa’s leading infrastructure solutions provider,” he stated.
Ayotunde Anjorin, Chairman of Cabeolica and AFC’s Chief Financial Officer, noted that the expansion continues to position the company as a regional model for renewable energy PPPs. He added that the project reflects a deep commitment to reliable and clean energy development aligned with Cabo Verde’s national priorities.
AFC continues to scale its renewable energy investments across the continent. Most recently, its portfolio company Infinity Power, Africa’s largest independent renewable energy producer reached financial close on the 200 MW Ras Ghareb Wind Farm in Egypt, expected to power over 300,000 homes.
