CHINESE INVESTORS EYE TROUBLED CNMI POWER

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Energy company wants to submit proposal

SAIPAN, CNMI (Marianas Variety, March 25, 2011) – A GROUP of Chinese renewable energy investors visited the Commonwealth Utilities Corp. Power Plant 1 yesterday and expressed interest in joining foreign companies that will submit proposals to the CNMI government.

Justin Xu, president of Guangzhou HY Energy Technology Co. Ltd., told Variety yesterday that "big businesses" in China are ready to invest overseas.

Guangzhou HY Energy, he added, is among the companies allowed by the Chinese government to do business abroad.

He said his company has been implementing renewable energy production projects for 10 years now and will conduct an assessment on Saipan in the next three months.

According to Xu, HY Energy is a high-tech enterprise engaged in designing, manufacturing and marketing wind-solar hybrid power systems.

It has made "tremendous" contributions to improve wind generation in China since 2001, he added.

During a presentation in the governor’s conference room yesterday, Xu and his partners offered to put up solar-powered street lights on Saipan, Tinian and Rota and install a hybrid power generator at CUC power plants.

Lt. Gov. Eloy S. Inos said the Chinese investors offered to help the CNMI address its power woes.

He said it is a good thing that the CNMI is receiving a lot of proposals from renewable energy investors.

"We should welcome all investors and their ideas," he added.

According to Inos, the CNMI government will have to go through the normal procurement and competitive process and will ask interested investors to submit proposals.

Variety learned that an RFP, or request for proposals, is coming out in two weeks.

Rep. Froilan C. Tenorio, Covenant-Saipan, said these investors learned about the CNMI’s interest in renewable energy from local businessman Juan Cabrera who knows them.

With the enactment of the Public Law 17-34, which makes it easier for the administration to privatize CUC, the investors’ presence is most welcome, he added

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