A novel combination of nanostructuring techniques is undertaken to obtain a multifunctional material system consisting of planar arrays of nanoribbons of Pd nanoparticles (NPs) on polyethylene terephthalate (PET) substrates. The first stage was to prepare a laser-induced periodic surface structure (LIPSS) on the PET substrate, which electron microscopy revealed to be a large area, high coherence nanoripple pattern with spacing of (204 +/- 1) nm and amplitude of (46 +/- 9) nm. The second stage comprised NP (diameter 5 nm) deposition by orientating the nanostructured substrate to a Pd NP beam from a sputter gas phase aggregation source such that the substrate was partially shadowed by the ripple pattern (the incident angle with respect to the normal of the PET substrate was varied between 60 and 75 degrees). This resulted in the formation of an array of NP ribbons (thickness similar to 20 nm) on the ripple ridges, the mean ribbon width depending on the deposition incidence angle, thus confirming the shadowing effect. These planar arrays were studied as candidates for both flexible, transparent conductors and hydrogen sensors. Analysis of optical transmittance indicates that a mean inter-ribbon gap of above 100 nm is required in order to improve the average transmittance beyond 80%. Four-probe electrical resistance measurements show these nanoribbon arrays to be electrically anisotropic structures whose sheet resistance is understood to be governed by the contact resistance between NPs. An additional functionality is proven for the fabricated substrates: reversible detection of hydrogen at a partial pressure above similar to 60 ppm, with good electrical sensitivity in the dilute (alpha-hydride) regime.