7.Regional and local cooperation
The Cabo Verdean government has set up Cabeólica, whose partners include the Africa Finance Corporation, Electra, the Finnish Industrial Co-operation Fund and InfraCo, to develop renewable energy projects and currently has capacity to produce 25.5 MW using 30 turbines at wind farms in Santiago (11), Sal (9), São Vicente (7) and Boavista (3).These wind turbines cost US$90 million but do not produce enough power to meet the country’s needs, which are around 150MW.
In order to further develop renewable energies, in September 2017 German company SINN Power signed a contract with the maritime and port authorities of the island of São Vicente to install wave energy power production system.
8.What are the practical challenges the country may have within its diplomatic relations in the sector of energy?
Cabo Verde is very heavily dependant on fossil fuels, which makes electricity very expensive, a barrier to the country's development, but the country has set a very ambitious goal to make a jump to renewable energy. So the exploitation of renewable resources in the country would reduce the cost of electricity by increasing supply and, at the same time, significantly reduce GHG emissions, but probably because of the financial resource deficit, it is not fulfilling its potential.
In this case, it is probably not beneficial for the fossil fuel selling countries that Cabo Verde goes all renewable resources, but for Cabo Verde it would be greatly profitable to get the financing for switching to renewable energy, because then at least in this sector it would be self-sufficient and could deflect the money to countries development.
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