Shareholders and Lenders
Shareholders
Electra, S.A.
The Public Electricity and Water Company Electra was created in 1982 and has the mission providing electricity, water and services throughout Cabo Verde’s territory. The company is held by the state and by private companies, with the technical and financial capacity to guarantee the continuous supply of water and electricity in economical and safe conditions, promoting and favoring Cabo Verde’s socio-economic development.
The State of Cabo Verde
The State of Cabo Verde promotes the social, economic, technological and cultural development of the country and has in recent years made a major investment in renewable energy as a way of reducing energy dependency on the external world and lowering the costs associated with the increase in the price of raw materials, namely fossil fuels.
With the target of reaching a renewable energy penetration rate of 100%, the State of Cabo Verde continues to invest heavily in the creation of public-private consortiums that contribute to the country’s environmental and economic sustainability.
AFC Equity Investments, Ltd.
AFC Equity Investments is a wholly owned subsidiary of Africa Finance Corporation (AFC), which directly and indirectly remains Cabeolica’s largest investor since 2010. AFC is a pan-African multilateral financial institution made up of sovereign states , of which Cabo Verde is also a member state. Its main shareholders are the Central Bank of Nigeria and some of the largest African commercial and development banks.
Lenders
European Investment Bank
The European Investment Bank is a European Union institution whose objective is to grant long-term credit to projects that are economically viable and/or contribute to the sustainable development of a region.
With a strong commitment to renewable energy in order to reduce the impact of climate change, EIB supports various different public-private projects in the public interest encouraging environmental protection and the security of the energy supply.
African Development Bank
The objective of the African Development Bank is to stimulate the economic growth and social progress of its member countries, which include Cabo Verde.
For this millennium, one of the Bank’s priorities is supporting projects that contribute to environmental sustainability and to the development of renewable energy within the African continent.