HAVANA, Jan. 20 -- Companies from Cuba and China on Friday signed 10 agreements to strengthen cooperation in renewable energy and industry after a three-day forum.

With the participation of 18 Chinese companies and 20 Cuban firms, the forum analyzed cooperation strategies to expand the development of renewable energy in the island nation.

The event also saw Chinese companies present solutions for the development, manufacturing of equipment, construction, operation and administration of solar, wind and hydro-powered projects.

Both countries are interested in developing the renewable energy industry as it is a highly efficient way to boost the development of the economy, said Gu Chengkui, an expert from China Center for Information Industry Development (CCID).

Gu, who led the Chinese delegation to the event, said this business forum was an efficient way for the CCID and the Cuban Ministry of Industries to explore cooperation potentials.

Agreements signed between the two sides included a memorandum of understanding between Cuban Electronics Group and Chinese company Haier for the establishment of a joint venture and a R&D center for renewable energies.

"Cuba has very positive ideas for the development of its renewable industry. With the knowledge and experience of China, we can jointly promote and develop Cuba's renewable sector," said Gu after the deals were signed.

Cuba is keen to increase the use of renewable energy, especially wind and solar. Currently 4.65 percent of its energy use is generated by renewable or clean resources but the country plans to increase the ratio to 24 percent by 2030.