electra privatisation

Privatisation of Electra

Recently Olavo Correia the Cape Verdean Deputy Prime Minister and Minister of Finance announced that in 2019/2020 the country’s water and electric company, Electra, is to be privatised. The announcement followed a visit to Electra’s premises. A number of potential organisations have already expressed interest. However, the next step is to prepare an appropriate model for the privatisation.

Achieving a reduction in fossil fuels

The intention is to devise a model that promotes the country’s plans to produce the whole of the countries electricity from renewable sources. Cape Verde currently produces 20% of its electricity from renewables; however the aim to improve that percentage considerably. Cape Verde is already at the top of the African countries for producing and using renewable energy. The Government will develop a model geared to reducing the country’s reliance on fossil fuels.