Ocean Thermal Energy Corp. (CPWR)

[Ocean Power]

Investors willing to immediately put more than $600 million into the island. CEO Feakins tweeted: https://twitter.com/i/topics/tweet/1088457761602433026

Caribbean Business
... snip ... Maldonado said Puerto Ricans who took their investments abroad now
have a financial incentive to bring that money back to the island and invest it in the Puerto Rican economy. Locally, the benefit would be for about 15 years.

The chairpeople of the island’s House and Senate Treasury committees, Antonio “Tony” Soto and Migdalia Padilla, respectively, support the measure.

“I don’t think it’s something that we would take too long to pass like the tax reform,” Padilla said, adding that because Thursday is the last day to pass bills, she expected the bill to be voted on by the Senate. Soto said the legislation is an important economic development tool that could bring millions of dollars in investments to Puerto Rico.

Maldonado urged the legislature to evaluate the bill as soon as possible to allow Puerto Rico to gain a competitive edge over the states.

“This cannot be seen as a tax bill but as one of economic development. This is a bill to move the economy, to strengthen it,” Maldonado said. “We are competing with other states and our offer should be as broad and attractive as in other states.”

He stressed that there are a number of investors already willing to immediately put more than $600 million into the island.