Government guarantees that Electra will be privatized in between 2019/2020 according to ongoing study

Praia, May 2 (Inforpress) – Deputy Prime Minister and Minister of Finance Olavo Correia today assured that Electra will be privatized between 2019/2020, according to the model that the study indicates.

The information was advanced by the governor today, at the end of his visit to the premises of Electra in Gamboa and Palmarejo, accompanied by the Minister of Industry, Commerce and Energy, Alexandra Monteiro, and indicated that the privatization process should be a study, decision and will be implemented later.

“At the moment we have several models on the table, but we are also listening to the international market and as a result we will calmly analyze what will be the best model and allow us to be independent in relation to fossil fuels, to use renewable energy more and more in providing electricity to citizens, reducing the energy bill, making intelligent management so that we can combat technical and commercial losses and produce enough energy to supply all the islands of Cabo Verde,” he said.

The Deputy Prime Minister and Minister of Finance said that they have already received proposals from various stakeholders, but stressed that at the moment the key is to work on a suitable and ideal model.

Electra, the largest public company in Cabo Verde, stressed that since 2011, more than 150 million euros have been invested and it will be up to the Government to ensure that Cabo Verdeans and companies have cleaner, cheaper energy with supply throughout the country, especially with a huge impact on energy reduction.