The Sao Tome government will ask Portugal to convert the value of its debt to finance climate change mitigation projects, Luse said this Friday, the archipelago’s Minister of Infrastructure and Environment.
“We must seize this opportunity that Portugal opens for negotiations on debts, climate action and climate-related projects, and the government will certainly not hesitate to participate in these negotiations,” said Adelino Cardoso.
Sao Tome and Principe’s debt to Portugal is around 84 million euros.
“The government is reviewing and conducting these negotiations so that we can mitigate the effects of climate change and control climate change in all aspects,” stressed the Minister of Infrastructure and Environment of Sao Tome and Principe.
Adelino Cardoso was speaking on the sidelines of the groundbreaking ceremony for the second phase of a photovoltaic power plant in Santo Amaro, southern Sao Tome, to produce 1.5 megawatts of power, fully financed by the African Development Bank (AfDB).
The action is part of an energy transition and institutional support program funded by the African Development Bank, the United Nations Development Program and the United Nations Industrial Development Organization, which enabled the installation of 0.5 megawatts of solar power last year.
The Infrastructure Minister mentioned several projects that aim to guarantee at least 11% clean energy on the Electric Water Company (EMAE) network, with 5% coming online by the first quarter of next year.
The government of Sao Tome plans to guarantee at least 50% clean energy by 2030.
Author: Lusa
Source: CM Jornal
I am Michael Melvin, an experienced news writer with a passion for uncovering stories and bringing them to the public. I have been working in the news industry for over five years now, and my work has been published on multiple websites. As an author at 24 News Reporters, I cover world section of current events stories that are both informative and captivating to read.