San Juan, May 4 (IANS/EFE) Chinese company Jiangsu Sainty will build a research center in Puerto Rico that will study new ways to use the sun's rays to generate electricity.
Sen. Cirilo Tirado, of the governing Popular Democratic Party of Puerto Rico, said in a press release that the first phase of the project will carry an investment cost of $500,000.
The center will be built in Manati, a city on the Caribbean island's northern coast, and will be led by a group of young Puerto Rican engineers and researchers.
"We support this and any other research and studies related to the development of alternative and renewable sources of energy production," Tirado, who chairs the Senate of Puerto Rico's Commission on Natural and Environmental Resources, said.
He said the goal is for the center to serve as a research lab for university students and academics at higher education institutions on the US commonwealth.
Jiangsu Sainty, which began operating in China 37 years ago, has more than 100 subsidiaries worldwide, 200,000 employees, nearly $20 million in assets and annual revenues of more than $10 billion.
The Chinese company has participated in thermal energy, hydraulic, and wind, solar and nuclear projects throughout the world.
--IANS/EFE
rd
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
