The objective of the Distributed Solar Energy Systems (Sids Dock) Project is to increase the generation of solar renewable energy in Cabo Verde. A previous WB energy Project in Cabo Verde (the Recovery and Reform of the Electricity Sector Project –P115464 –closed on March 30, 2018) focused, inter alia, on the expansion of electric power generation in the islands of Sao Vicente and Santiago.It was decided at the time of appraisal to complement the RRESP project with a pilot trust fund focusing exclusively on the generation of solar energy. The Distributed Solar Energy Systems (SIDS DOCK)Project was therefore approved as part of an initiative to support the GOCV to adapt to a rapidly changing environment of renewable energy technology in order to test and develop renewable energy sources, in particular solar energy.
Developing renewable energy sources such as solar PV would contribute to macroeconomic and fiscal stability by reducing both thecost of electricity generationand the exposure to petroleum price fluctuations.In 2016, a quarter of the electricity generated in Cabo Verde came from renewable energy sources and the Government’s intention is to increase this to over 50% by 2030.The Government of Cabo Verde had established in its Strategic Plan for Sustainable Development (PEDS) that energy security, price stability and reduction of the energy bills are central objectives operationalized through the National Program for Energy Sustainability (PNSE).Both PEDS and PNSE envision reaching a 54 percent penetration rate for renewable energy by 2030 and the installation of morethan 150MWp of new solar PV projects.
To achieve these goals significant investment and financial support would berequired.SIDS DOCK would provide support to demonstration investments on solar PV-based systems for distributed generation and the creation of the enabling environment for the private sector participation to scale up these systems.
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