Cuban hydro project financed by Kuwait Fund for Arab Economic Development

The Cuban energy sector will get a boost this year after a deal signed with the Kuwait Fund for Arab Economic Development will provide financing for the construction of 34 small hydropower projects. These projects will use existing infrastructure to provide a capacity of 14.6 MW of hydropower to the Caribbean island and three linking substations will transmit electricity along approximately 75 km of transmission line.

Financing will indirectly benefit “scientific research centers and universities to enhance in general the development of the hydropower sector…” The 21-year loan from KFAED will cover approximately 40% of the project cost and  includes a seven year grace period. The remainder of project costs will be covered by the Cuban government. Sources from KFAED say that the initiative should be completed within seven years.

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