Nicaragua to add 770 MW of renewables in 15 years - report

Sep 22, 2014 - Nicaragua plans to install 770 MW of renewable energy facilities in the next 15 years, including 300 MW of wind, according to the country's energy minister.

The plan will require a total investment of USD 4 billion (EUR 3.11bn) within both the public and private sectors, mining and energy minister Emilio Rappaccioli told Canal 4 TV, as reported by Spanish news agency EFE on Thursday. The targeted capacity includes 300 MW of wind farms, 100 MW of geothermal, 100 MW of solar plants and 270 MW of hydropower stations.

At present, Nicaragua generates more than 70% of its total power from non-renewable sources but aims for renewables to reach an 80% share of its power mix by 2018 and 90% in 2020.

According to a recent report by IHS Inc (NYSE:IHS), Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama will jointly install around 1,500 GW of solar photovoltaic (PV) plants between the start of 2013 and the end of 2018 as more foreign developers are exploring opportunities in the region. Government tenders in some countries will also support the plan.

(USD 1.0 = EUR 0.778)

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