Chinese fund for Portuguese-speaking countries finances solar project in Brazil

The Fund for Development Cooperation between China and Portuguese-Speaking Countries has approved funding for a solar energy project in Brazil and is “analysing half a dozen projects,” said Wednesday in Macau the Deputy Director General of the fund’s management department.

Song Feng said that in addition to the two projects already approved for Angola and Mozambique, the project now approved for Brazil, which aims to eventually produce 200 megawatts of electricity, represents an investment of US$200 million, US$20 million of which will be provided by the Fund.

Regarding the “half a dozen projects,” Song noted “a Macau company that intends to invest in a five-star hotel in Cabo Verde,” referring to a project implemented by businessman David Chow.

The Deputy Director General of the Fund’s management department, cited by newspaper Jornal Tribuna de Macau, said the analysis of this project “is almost finalised,” and the financial contribution will also be US$20 million.

Song Feng was speaking during a presentation of the Fund to Macau businesspeople, so that they can also apply for funding for projects in Portuguese-speaking countries, which included the participation of 250 representatives of trade associations and local businesses.

David Chow, Honorary Consul of Cabo Verde, plans to build a tourist resort on the islet of Santa Maria, situated opposite the capital, Praia, which will cover an area of ​​152,700 square metres and will include the first casino in the African island nation.

The Fund for Development Cooperation between China and the Portuguese-speaking Countries, announced in November 2010 by then Prime Minister Wen Jiabao at the 3rd Ministerial Conference of Forum Macau, has an initial budget of US$1 billion. (macauhub)