Nicaragua’s government expected that by 2017, 90 percent of its energy production depends on its abundant natural resources and potential in renewable energies such as hydro, geothermal, wind, solar and biomass from. Nicaraguan Minister of Energy and Mines, Emilio Rappaccioli, in remarks published today by the official press said that only 6 percent of the energy produced in the country comes from renewable sources, while 67 percent of energy produced here comes from fossil fuels.
In that sense, Rappaccioli said the government of President Daniel Ortega is interested in transforming the energy matrix. Therefore, he said, the government has designed a portfolio of projects planned to develop 2012 to 2016, to provide about 650 megawatts of power generation which will require outlays of around $2,600 million.
According to the minister, the transformation of the matrix of power generation would allow the Central American country not only supply the domestic market but export energy to neighboring countries. In this context, he said, there are ample investment opportunities for “those who are willing to take on this challenge”, including consortia and other foreign institutions.
Estimates by the Ministry of Energy and Mines of the country, only wind power project La Fe, San Martin, who last week received a loan from the Interamerican Development Bank (IDB) for more than 80 million dollars, will decrease the importation of some 228,000 barrels of “fuel oil”, which would represent a savings of $21 million.
The work, which will have 22 turbines, is in initial phase after the construction of the foundations to support three teams and the implementation of eight miles of roads acceso.Su total investment, reported the minister will come to $116 million, which includes the participation of private investors and domestic banks.
“Once completed will represent a significant contribution to efforts to transform the energy mix alongside other works such as Tumarín, Eolo, El Hoyo Monte Galán, Casita San Cristobal and San Jacinto Tizate, among others, the minister said.” It is an energy clean and cheap that will reduce costs of the oil bill and the cost of power generation, benefiting the country and users,” said Rappacciolli.