WorldWater & Power Corporation (OTC BB:WWAT.OB), maker of high-horsepower solar energy systems, has signed an Agreement with Xinhua Financial Network Limited (XFN), China’s premier financial services and media company, to represent WorldWater & Power in the Chinese water and energy markets. Xinhua will introduce WorldWater & Power to federal and provincial governmental and private sector buyers for the sale of the Company’s AquaMax(tm) high volume water pumping systems and other solar products.
As a result of deteriorating air quality, the National People’s Congress Standing Committee passed a Renewable Energy Law, effective January 1, 2006, requiring that 10 percent of China’s electricity must be generated from renewable energy sources by 2020. Several provinces are investigating the use of solar systems, and appear to be moving forward ahead of government regulations.
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