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Cape Verde

Cape Verde

Global warming grant for wind power development

The World Bank has approved a "global warming grant" that includes $3.7 million for wind power development in the Republic of Cape Verde (Windpower Monthly, April 1999). The wind project can only go ahead once the islands' utility, Electra, has been privatised -- or more accurately, once a strategic investor has been found to take a 51% stake in the utility. When that happens, an international competitive tender will be issued for the project. The planned 7.8 MW will almost triple the installed wind capacity in Cape Verde to nearly 11 MW. The $3.7 million wind grant is part of a $4.7 million grant through the Global Environment Facility (GEF), a multi-lateral international development agency set up to fund projects for reducing global warming. It is run by the World Bank and financed by the bank and the United Nations. The remainder of the GEF grant is to help improve the islands' supply of water and sanitation and to support restructuring and reform of those sectors as well as the electricity sector. The GEF grant is part of a larger $22.2 million World Bank grant, for which the co-financiers are the European Union (EU), OPEC Fund, Austria, Electra and private concessionaires. But since the co-financing is not for the GEF grant, wind bids from, for example, the EU will not be favoured over those from other parts of the developed world, according to a bank official. The tender will be judged according to the bank and UN's rules of international competitive bidding.

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