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In Cuba, Foreign Companies Invest over One Billion Dollars in Renewable Energy

Havana, September 28 (RHC-ACN)-- Several businesses with foreign capital, totaling more than one billion dollars, have been established in Cuba this year in the renewable energy sector, considered fundamental for the socioeconomic development of the country.

Déborah Rivas, director general of Foreign Investment of the Ministry of Foreign Trade and Investment (Mincex), told the press that the new alliances are basically related to wind and photovoltaic energy.

According to Rivas, during the first seven months of this year, businesses with foreign capital have also been agreed in the fields of tourism, construction and mining.

She highlighted that so far this year Cuba has managed to establish more projects, especially in prioritized sectors, compared to what was achieved until 2016.

Minister of Economy and Planning Ricardo Cabrisas told the Cuban Parliament last July that reinvestments had been approved in two businesses in progress and 11 new ones, five in the Mariel Special Development Zone (ZEDM) and six in other locations, surpassing 1.3 billion dollars.

Edited by Lena Valverde Jordi
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