Wednesday, June 2, 2010

Nicaragua Primed for Renewable, Sustainable Energy Projects

There is a saying in Nicaragua, "The country is rich but the people are poor." Basically, Nicaragua is a country full of potential and natural resources despite being one of the most economically poor countries in Latin America. But for any individual, company or government looking to invest in wind, water or solar energy projects while helping philanthropically at the same time, Nicaragua is the perfect place.

A company owned by Centrans and AEI has recently constructed $90 million in windmills in south west Nicaragua, one of the windiest regions in the world. The project is said to be operating at 80% capacity, 60% higher than originally expected. With the first 19 windmills, over 6% of the country's energy needs were met.

The following is an excerpt from Commodity Online, proving Nicaragua's commitment to clean energy and wind power:

Nicaragua secured its commitment to green energy technology by awarding a 30-year license for wind farms in the country, advocates said.

The Nicaraguan Ministry of Energy and Mines granted Nicaragua's Blue Power & Energy a 30-year license for a 22-turbine wind farm that could produce 39.6 megawatts of electricity.

PRO Nicaragua, a non-profit economic advocacy group which has offices in Washington, notes that Nicaragua has the potential to generate 800 megawatts of power from wind energy, which represents about 17 percent of the current renewable energy potential for the country.

The Nicaraguan government in 2008 and 2009 awarded several wind energy licenses to bring to the total installed capacity to 100 MW. "This demonstrates the government of Nicaragua's commitment in working actively to promote renewable energy projects in the country in pursuit of transforming the current oil-based energy generation matrix," said the advocacy group.

Nicaragua also has an advantage when it comes to geothermal power, with an active chain of 25 volcanoes in the country. Geothermal power is one of the most reliable, cost effective, sustainable forms of renewable energy available and is limited to areas near tectonic plate boundaries.

This just in from a US-based news source:

Reno-based Ram Power Corp. and Nicaraguan natural gas company Disnorte-Dissur are negotiating a power purchase agreement for energy produced by a new geothermal power plant in Nicaragua. Disnorte-Dissur will purchase up to 157 megawatts of power to be developed from Ram Power's Casita San Cristobal geothermal concession.

Both final capacity and power rate figures are subject to approval by the Nicaraguan Ministry of Energy and the electricity regulator. The agreement is expected to be signed this year.


Sarena said...

Great to know that there's another place rich in renewable energy resources. Their wind energy project is pretty much successful now and I can see that projects for steam and solar energy are going great as well.

Just like here in Texas, electricity suppliers use natural resources like steam, solar and wind that many electric company wants to engage with. Also, they give power to consumers to choose their desired home or business electricity suppliers at the lowest possible Texas electric rate.

Land Adelaide said...

The Map is a great tool for starting the real estate purchase process.