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The OPEC Fund
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Development
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  2. Solar Energy Development Project

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Solar Energy Development Project

Cuba

Borrower Cuba
Financing Type Public Sector
Instrument Project Loan
Focus Area Energy
Approved 19.09.2017
Signed 01.03.2018
Status Ongoing
Loan Administrator OPEC Fund
Executing Agency MInistry of Energy and Mines (MINEM) of Cuba
Co-financiers Government of Cuba
OPEC Fund Contribution (US$m) 45.00
Total Project Cost (US$m) 73.41

This project aims to help Cuba diversify its energy mix by increasing the generation of electricity from renewable energy sources. This will be done by developing solar water heaters and domestic photovoltaic systems to benefit the population across the country and by constructing two solar photovoltaic power plants in Las Tunas Province. The project will benefit around 250,000 people.

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