Climate and energy

A sovereign framework loan to the Republic of Cabo Verde to finance a set of inter-related electricity generation, transmission and storage projects under the country's National Electricity.

The project will contribute to the reduction of Fiji’s reliance on fossil fuels and of its greenhouse gas emissions and will help Fiji to meet the rising demand for electricity due to economic growth and the electrification of the transport sector.

The project is part of the Africa-EU Green Energy Initiative which aims to engage European and African public and private sector actors to increase electricity production and access to energy, promote energy efficiency, support reforms for boosting private investment, and foster market integration.

The hydroelectric power plant (420MW) will produce more than 2100 GWh yearly. As a renewable source of energy, the power plant will contribute to avoiding the emission of 850kteq of CO2 per year.

Electronic Transport Development of a new business mode to develop and test specific financing for the conversion of urban bus fleet to electric: 40 public e-vehicles financed, contributing to a reduction of 5000 CO2 ktons/year.

Provide technical assistance for resource classification and mapping, modernise mining and refining, align Critical Raw Materials (CRMs) exploration and production with global standards, and invest in exploring critical and strategic materials.

Implementation of the strategic partnership with Zambia to promote the development of sustainable raw materials value chains.

Facilitate funding for the Critical Raw Material sector through allocations by the European Bank for Reconstruction and Development (ERBD) and the EU, supported by Horizon Europe.

Implement the country's wind strategy with solar power and pilot green hydrogen production. The NewGen plant aims to generate carbon-free hydrogen, fulfilling 20% of an existing ammonia plant's energy needs in Point Lisas.