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21st April 2011

Cabeolica wins Award for Best Renewable Project

The Cabeolica wind farm project was awarded the 2011 Best Renewable Project in Africa at the Africa Energy Awards held in Johannesburg on 31st March, 2011. The Cape Verde based project was singled out for being the first commercial scale Public Private Partnership (PPP) wind farm in Sub-Saharan Africa.

The Cabeolica 28MW wind farm was developed by InfraCo Africa as a public-private partnership with the government of Cape Verde and the national power utility. The US90 million project was financed with equity from InfraCo Africa, Finnfund and the African Finance Corporation, and debt financing provided by the European Investment Bank and the African Development Bank.

When completed, the wind farm will make substantial savings in energy costs each year and help the government of Cape Verde achieve its target of ensuring 25% of local power needs are provided by renewable energy by 2012.

Keith Palmer, Chairman of InfraCo Africa said "We are delighted that the Cabeolica Wind Project received this award."

Ebbe Hamilton partner at eleQtra, which is the manager of InfraCo Africa, said "Many African countries have a wealth of renewable energy resources at their finger tips. By harnessing renewables these countries can radically reduce the cost of power, improve the lives of their citizens and also contribute to the fight against climate change. But more private investment is needed to allow Africa to fulfil its potential and lead the world's first sustainable industrial revolution."

Please further information please visit Infraco Africa