21/12/2010 (Agence Europe) - Agreement on funding for wind farm project in Cape Verde. The European Investment Bank (EIB) and African Development Bank have just concluded a financing agreement to provide €45 million to design, construct and operate onshore wind farms on four islands in the Cape Verde archipelago. This will be one of the largest wind projects in Africa and first renewable energy public private partnership in sub-Saharan Africa. The project will provide over 28MW of electricity generating capacity and help the island reach an ambitious target of ensuring that 25% of local power needs are provided by renewable energy by 2012 and 50% by 2020. The project is being developed by InfraCo in a public-private partnership between the government of Cape Verde and local power utility Electra. (Com-O.L./transl/rt)