Flexens to probe feasibility for green H2 production on Cape Verde

Finnish renewable energy and hydrogen project developer Flexens Oy Ab intends to assess the feasibility to develop a large-scale green Power-to-X project in the Cape Verde archipelago in the Atlantic Ocean.

The company, in which France’s Lhyfe SA (EPA:LHYFE) owns a 49% stake, said on Tuesday it has signed a Memorandum of Understanding (MoU) with the island country’s energy ministry to collaborate on the feasibility studies.

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Under the plan, Flexens plans to integrate large-scale wind and solar power generation with electrolysers to produce green hydrogen and e-ammonia. The output will potentially be exported to other countries.

“We seek to find the best partners for our country's green transition and future energy production. The Finnish project developer Flexens presents the expertise and approach to address both the opportunities and challenges we have in Cabo Verde,” said Rito Evora, National Director of Industry Trade and Energy at the Ministry of Industry, Trade and Energy of Cape Verde, also known as Cabo Verde.

According to government data from last summer, imported petroleum products accounted for 80% of Cabo Verde’s total energy supply, while less than 20% came from renewable sources. The nation’s goal is to achieve a penetration rate for renewable energy of 50% by 2030.