Luxembourg plans to provide funding of 500,000 euros to carry out a study on developing strategies for energy optimisation in Cape Verde, under the terms of an agreement signed by the two governments Wednesday in Praia.

The study, which will be carried out by German institute Ifas (Institut für angewandtes Stoffstrommanagement), follows up on a study from 2010 by Portuguese company Martifer, which identified Cape Verde’s renewable energy sources.

The convention was signed by Cape Verde’s minister for foreign relations, Jorge Borges, and by the Luxembourg embassy’s business attaché in Praia, Thierry Lippert, and is part of the III Indicative Cooperation Programme between the two countries, signed in July 2010 for the 2011/2015 period.

Minister Jorge Borges noted the importance of the study and the government’s strategy to generate 50 percent of Cape Verde’s power using renewable sources by 2020. A plan costing 300 million euros was approved in January for the renewable energy sector in Cape Verde. (macauhub)