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- Where we work
- Solar Energy Development Project
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.