Cabeólica is the first privately-financed sustainable wind farm on a commercial scale in sub-Saharan Africa. Operating across four of Cape Verde’s islands (Boa Vista, Sao Vincente, Sal and Santiago) and consisting of over 30 wind turbines, it has a total installed capacity of 25.5MW, equivalent to around 20% of Cape Verde’s energy needs. To date, Cabeólica has generated over 300,000 MWh of clean wind power.

The project has transformed Cape Verde’s access to electricity. Prior to becoming operational, the islands suffered from chronic power shortages and were heavily dependent on imported oil, with only 2% of the country’s energy needs being sourced from wind power. Today, Cape Verde benefits from a reliable and extended electricity grid.

Andrew Alli, President & CEO of Africa Finance Corporation said:

“We are very excited to take a larger part in this ground-breaking project. Cabeólica provides access to electricity for 360,000 people, which is about 72% of the Cape Verde population. The project is staffed entirely by skilled Cape Verdean employees and with sustainability at its core; it has avoided an estimated 55,000 tonnes of carbon emissions a year and averted the need to import 15 million litres of diesel a year. The additional share purchase will allow further expansion and other uses of wind energy in Cape Verde. We are very proud of our growing work in addressing Cape Verde’s energy needs though sustainable measures, all the while seeking a competitive return on investment for our shareholders.”

Notes to Editors

About AFC – www.africafc.org
AFC, an international investment grade multilateral finance institution, was established in 2007 with an equity capital base of US$1 billion, to be the catalyst for private sector infrastructure investment across Africa. With a current balance sheet size of approximately US$3.2 billion, AFC is now the second highest investment grade rated multilateral financial institution in Africa with an A3/P2 (Stable outlook) rating from Moody’s Investors Service. In May 2015, AFC successfully concluded a debut US$750 million Eurobond issue which was 7 times oversubscribed and attracted investors from Asia, Europe and the USA.

AFC’s investment approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development and risk capital to address Africa’s infrastructure development needs and drive sustainable economic growth.

AFC invests in high quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications.

AFC has become the benchmark institution for private sector power project development and investment in Africa.

Follow us on Twitter – @africa_finance

For more information contact:
Lucy Savage
Vice President, Communications
Tel: + 234 1 279 9600
Email: lucy.savage@africafc.org

Bell Pottinger
Victoria Geoghegan / Nick Lambert / David Bass / Philip Peck
Tel: +44 20 3772 2500
Email: afc@bellpottinger.com

By African Media Agency (AMA) on behalf of AFC.

The Noor Ouarzazate plant (NOORo), supported by the African Development Bank (AfDB) among other donors, is a keystone of Morocco’s solar Program (named Program Noor) to develop 2 GW by 2020 and create transformational impact on Morocco and the region. As such, it stands as a showcase example of the ambitious New Deal on Energy initiated by the Bank’s new President, Akinwumi Adesina, to provide universal access to energy for all Africans by 2025. The New Deal is poised to transform Africa’s energy by exponentially increasing on-grid generation and transmission, off-grid connections, and access to clean cooking energy throughout Africa.

Noor Ouarzazate provides an important early example of the type of project, which can trigger the transformation of Africa’s energy sector required to achieve the New Deal’s ambitious vision. The New Deal will operate through five principles: raising aspirations to solve Africa’s energy challenges; establishing a Transformative Partnership on Energy for Africa; mobilizing domestic and international capital for innovative financing in Africa’s energy sector; supporting African governments in strengthening energy policy, regulation and sector governance; and increasing the Bank’s investments in energy and climate financing. Noor addresses those principles in four ways:

• The plant exponentially harnesses the country’s solar power, achieving over 500 megawatts (MW) installed capacity and increasing on-grid access to more than a million households by 2018;

• The plant in Ouarzazate will also help reduce greenhouse gas emissions in the region by 19 million tons over 25 years, keeping the region in line with its nations’ Nationally Determined Contributions (NDC) commitments under the Paris Agreement on climate change;

• Built on a partnership between the public and private sectors, the project will exponentially increase market access to solar energy by reducing market risk and creating attractive investment potential;

• The project will have a powerful economic impact on the country, contributing to industrial development and helping create an estimated 2,500 jobs.

“We are proud that Africa is leading the way at a global level to shift the world’s consumption and use of solar energy as a central source of our future power,” stated Kurt Lonsway, AfDB’s Environment and Climate Change Division Manager and CIF Coordinator. “At its outset, NOORo is an elegant achievement, because it helps answer the crying need for increased access to basic energy services for the citizens of Africa, at the same time that it breaks ground on low-carbon and sustainable energy use. We believe that NOORo will serve as a powerful example for Africa and the world.”

The Noor Ouarzazate plant is a partnership between the Climate Investment Funds (CIF), the AfDB, World Bank, and other international partners. Implementation of the whole Noor Ouarzazate CSP project will be carried out at a total cost of €2.1 billion including €365 million from AfDB and CIF via AfDB and €227 million from the World Bank and CIF via the World Bank.

For more information on the project, see the video on the socio-economic impact and the press kit.

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About the Climate Investment Funds (CIF)

Established in 2008, as one of the largest fast-tracked climate financing instruments in the world, the US $8.1-billion CIF provides developing countries with grants, concessional loans, risk mitigation instruments, and equity that leverage significant financing from the private sector, MDBs and other sources. Five MDBs – the African Development Bank (AfDB), Asian Development Bank (ADB), European Bank for Reconstruction and Development (EBRD), Inter-American Development Bank (IDB), and World Bank Group (WBG) – implement CIF-funded projects and programs.

By AfDB

The reason behind the change.

We were duly informed by a well-meaning individual that some non-entities were selling our personal and company information and the management of Alliance 54 had written to the Companies House to inform them about the activities, but we received a feedback from the Companies House stating that there was nothing they could do. So, we deliberately decided to get the company dissolved and did a re-registration with both an Accounting Firm and Solicitor in order to protect our information.

With a new logo.

However, we still maintain our brand as Alliance 54.

Please take note.

Thank you.

Signed: Management