Cape verde energy storage industry investment promotion situation

When will Cape Verde's energy storage centre be operational?

During the presentation of the project, Cape Verde's National Director for Industry, Trade and Energy, Rito Évora, announced that the energy storage centre is scheduled to be operational by 2030, with the aim of injecting 7% of renewable energy into the national public grid and 18% into that of the island of Santiago.

Why should I invest in Cape Verde?

Cape Verde benefits from a stable economy due to its peg to the euro, which has resulted in very low inflation rates in recent years. Additionally, the country receives a credit facility from Portugal at concessional terms.

What is the executive area at Cape Verde experience?

The Executive area at Cape Verde Experience is set in an attractive part of the hotel grounds, away from younger guests, available exclusively to everyone aged 12 years and above.

Does Cabo Verde have electricity?

Access to electricity in Cabo Verde reached 93% in 2018 from 87.1% in 2012 though in rural areas access remains below the national average (83.1%). Renewable energy accounts for 20.3% of total supply and an electricity sector Master Plan (2018-2040) was designed to help achieve 50% of renewable energy generation by 2030.

How much does the Santiago pumped storage project cost?

The Santiago Pumped Storage Project, which will be located in Chã Gonçalves, in the municipality of Ribeira Grande de Santiago and will cost around 60 million euros, promises to significantly increase energy storage capacity, thus making it possible to increase the country's electricity production capacity.

What does DL 14/2006 & DL 4/vii/2007 mean for Cape Verde?

DL No. 14/2006 (which revises the DL No. 54/99 sets the foundation for the electricity system in Cape Verde. DL No. 4/VII/2007 (in Art.