WASHINGTON, DC, June 17, 2010
/24-7PressRelease/ -- The Ministry of Energy and Mines (MEM) recently confirmed there are 18 hydroelectric projects in their study phase and six projects in their construction phase in Nicaragua, which are expected to begin their generation activities within the next four to five years.
Nicaragua has a hydroelectric potential of 3,280 MW, of which only 98 MW are currently being utilized. This represents a huge potential for companies interested in developing hydroelectric projects in the country, in addition to the opportunities in other types of renewable energy sources.
The Tumarin Project, located in the Grande River in Matagalpa, Nicaragua, could be one of the most important projects in the last 50 years in Nicaragua, according to representatives of the National Assembly. It is estimated to produce 250 MW, one third of the country's current demand, and will save up to US$100 million in fuel imports per year.
In addition to the nominal capacity that will be installed by the Tumarin project, other large scale projects will also contribute to increase the country's capacity, such as HIDROGESA and Brito, representing 100 MW and 250 MW, respectively.
Studies have estimated that Nicaragua has over 4,500 MW of potential capacity to produce renewable energy, of which 2,000 MW correspond to hydroelectric energy, 1,500 to geothermal, 800 to wind power and 200 to biomass.
These renewable energy projects will contribute to satisfy the demand of the Central American market in the following years, which is expected to grow from 7,000 MW currently to 14,000 MW in the next decade. The Government of Nicaragua has set the goal of reducing the country's dependence on hydrocarbons from 65 today to 15 percent of the energy generation matrix by 2015, through the granting of concessions to projects interested in generating energy from renewable sources.
Additionally, the construction of the Electrical Interconnection System for Central America (SIEPAC, for its acronym in Spanish) a regional transmission line of 1,800 km long with a capacity of 300 MW at a voltage of 230 KV will increase the capacity of energy and power transfer in the regional market. This system will enable the joint operation and development of the regional electricity market, ensuring the safety and quality of electricity supply so that any authorized agent may buy or sell energy regardless of their geographical location.
PRONicaragua is the Nicaraguan Investment Promotion Agency, established in 2002. It is a non-profit, public-private institution whose mission is to generate economic growth and job creation in Nicaragua by attracting high-quality foreign direct investment. The agency provides complimentary support services to qualified investors seeking investment opportunities in our country. For further information, please contact us at (505) 2270-6400.
Website:
http://pronicaragua.org---
Press release service and press release distribution provided by http://www.24-7pressrelease.com# # #
Press Release Keywords:Read more Press Releases from Adriana Dorn:
