Latest developments in Cape Verde for renewable energy growth

In the month the new state budget for 2023 came into force, which includes benefits for renewable energy, Cape Verde has also established cooperation with Portugal for the protection of the oceans and climate action.

New State Budget for 2023:

In Cape Verde, the new state budget for 2023 was approved on December 30th and immediately came into force on January 1st, which includes new incentives for renewable energy production:

Creation of new incentives for the production of renewable energy (exemption of duties and other customs charges on the import of new and modern renewable energy production equipment and accessories);
Maintenance of incentives for electric mobility regarding electric vehicles and interest rate subsidy for credits for micro production of renewable energy, contracted by families and micro and small enterprises.

ALER’s Members will soon receive a legal alert with the most important points of the legislation.

Portugal and Cape Verde in collaboration for the protection of the oceans and climate action:

Also during the month of January, the Prime Minister of Cape Verde, José Ulisses Correia e Silva, and the Prime Minister of Portugal, António Costa, met in Mindelo to discuss cooperation between the two countries, namely the issue of ocean protection and climate action.

During the meeting, António Costa announced the Portuguese Government's commitment to contribute to the Climate and Environment Fund that the Government of Cape Verde has decided to create.

The fund will be dedicated to accelerating Cape Verde's energy transition, increasing energy efficiency, developing a water diversification strategy for agriculture associated with renewable energy, reforestation, developing the blue economy and applying digital transformation to increase the efficiency of sectors that contribute to increasing the resilience and diversification of the economy.

Ulisses Correia e Silva expressed his satisfaction with the Portuguese Government's decision to contribute to the fund and highlighted the importance of cooperation between the two countries to protect the oceans and combat climate change.

This meeting between Ulisses Correia e Silva and António Costa is an important step in the historic cooperation existing between Cape Verde and Portugal, and it is expected that this partnership will have significant results in fighting climate change and protecting the oceans.