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Witnessing the signatures, the president of Costa Rica, Laura Chinchilla, has announced that GeSolar, a Chinese manufacturer of solar products, and Greenersys, a supplier of renewable energy products based in Costa Rica, have signed a letter of intent to develop a PV plant in Costa Rica.

No further details have been released about the projects. However, Photon stated that the companies are contemplating the development of a PV power plant as well as a PV module assembly plant in Costa Rica.

The agreement was made official at an event organized by the China Council for the Promotion of International Trade (CCPIT), the Ministry of Foreign Trade and CINDE PROCOMER. The event, which was held on President Chinchilla’s first day of her official tour of the country, promoted Costa Rica as an en export destination and identified the benefits of investing in the country. President Chinchilla’s tour also marks a one-year anniversary of a free trade agreement between Costa Rica and China.

Trade between the two countries has been on the up over the last 10 years with an average annual growth rate of 37.7%. A press release on the Costa Rican government website stated that Chinese statistics showed that trade between the two countries last year grew by 22.4% and reached a total value of US$4,728.6 million.