Beijing, China | March 2, 2012 – A Nicaragua delegation led by Laureano Ortega, son of Nicaragua’s President Ortega, paid a visit to Xinhua Water Resources and Hydroelectric Investment Company (“Xinhua”), one of the largest professional water resources and hydroelectric project investment companies under the Ministry of Water Resources of China (“MOWR”), in Beijing today.
As a follow-up to the previous meeting between SinoNicaragua and Xinhua held on September 21, 2010, Laureano Ortega and members of Nicaragua Delegation met with Mr. Wang Wenke, Director of the Bureau of Comprehensive Development of the MOWR, and Mr. Ding Shuangyue, President of Xinhua Hydropower to deepen the bilateral cooperation in the area of renewable energy especially for the hydroelectric project between China and Nicaragua. Mr. Ortega introduced that Nicaragua has a renewable energy generation of more than 4,500MW distributed in hydroelectricity, geothermal, wind energy, solar, biomass, etc., accounting for 50% of the total energy sources of Nicaragua. According to Nicaragua’s 25-Year National Energy Strategic Planning, clean energy will accounts for 100% of Nicaragua’s energy sources by the end of 2017. “At this moment, the government of Nicaragua under the leadership of Nicaragua’s President Ortega has established as its priority to grant concessions to generate energy from renewable resources,” said Mr. Ortega, “Nicaragua’s President Ortega believes that Nicaragua shall insist on sustainable development of energy industry and will give full support on renewable projects to establish strategic relationship with China to facilitate economic growth, not only for Nicaragua, but Central American.” Mr. Ortega also expressed their sincere invitation to Mr. Wang and Xinhua team to visit Nicaragua at the meeting on behalf of the President Ortega.
Mr. Wang Wenke added “China’s hydroelectric installation exceeded 2 billion MW by the end of 2011, and China has a strong ability in the area of hydroelectricity from planning and design to equipment manufacturing and project construction around the world. Xinhua is seeking opportunities to expand the international market, and we would like to strengthen daily communication to promote the bilateral cooperation, as well as, we will visit Nicaragua at appropriate time. We are looking forward to a successful cooperation with Nicaragua!”
The potential in renewable energy cooperation, especially in hydro, solar and wind, between Nicaragua and China is great. Nicaragua has a large-scale resources and Xinhua Hydro has an extensive experience in project development, project investment, execution and operations. It is excellent partnership cooperation in the making. Sinoaccess is very happy to be part of this development and bring the opportunity and partnership together, added, Eric Fang, CEO of Sinoaccess Group.
Sinoaccess Corporation, established in 1992 in Texas, USA, is a holding company focuses on China business venture development and addresses number of business sectors via its subsidiaries and affiliates. Sinoaccess has worked structuring investment, transactional structuring, investment structuring, establishing foreign technology joint venture, project direct investment, business development and product sales and marketing service with extensive experiences in wireless and telecommunication networks, IT technology and media, healthcare and biomedical technology, aviation technology, energy and resource sustainability, environmental and emissions in China. Sinoaccess’ understanding and experience with the Chinese government and their policies as well as of American companies’ policies is thorough, sophisticated, and complemented by the good will we have generated in China over the past 20 years. For more information on Sinoaccess, please visitwww.sinoaccess.com.