Viaspace, Agricorp to study feasibility of 12-MW biomass plant in Nicaragua

May 28, 2014 - US firm Viaspace Inc (OTCBB:VSPC) and Agricorp of Nicaragua have secured a contract for a formal feasibility study of their planned 12-MW biomass power station in the Central American country.

The pair’s 50/50 joint venture Energia Reino Verde, also known as Green Kingdom Energy, has awarded the task to Nicaraguan renewable energy projects developer Pelican SA. The formal feasibility study will be carried out in 90 days, starting next week, said Viaspace CEO Carl Kukkonen.

The developers have already implemented a pre-feasibility study of the project. Viaspace chairman Kevin Schewe noted that the company is currently working on securing the needed financing for the scheme.

The biomass plant will be co-located with a 2,100-acre (80 ha) Giant King Grass plantation in Nicaragua. Rice husks from the nearby rice mill will be used as a secondary fuel source and will account for about 5% of the plant’s total feedstock. Once operational, the biomass facility will be able to produce 84 million kWh of electricity, the developers said previously.

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