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Latin America Investment News on Viva Tropical

Billion Dollar Hydropower Station Coming to Nicaragua

Article Summary:

An announcement has been made in Nicaragua that construction of the Tumarín Hydropower Station will start in February 2013 on the hydroelectric plant which will generate 250 MW at a cost of $1.1 billion.

Original Article Text From La Prensa Grafica via Google Translate :

Invest in Nicaragua Power Plant

The hydroelectric plant Tumarín, a project in which a Brazilian-owned company will invest $ 1.100 million, will begin construction in Nicaragua within a year.

Marcelo Conde, president of Hydro Power in Nicaragua (CHN), said work will begin in February 2013 with the construction of a dam and a reservoir of 40 square kilometers.

“There is no doubt that the project to be implemented,” said the businessman, heading off rumors of an alleged suspension of the work, which was originally scheduled to begin in late 2011.

The hydroelectric Tumarín, surcaribeña located in the region of Nicaragua, will produce up to 253 megawatts of electricity, equivalent to 50% of current energy consumption in the country. It is expected that this production of energy, five times greater than that of two power plants in northern Nicaragua, will allow oil bill savings of $ 2.288 million during the first 10 years of operations.

Conde said that in the works and technical studies to date have invested $ 26 million and which is secured a $ 590 million National Bank of Economic and Social Development of Brazil and the Central American Bank for Economic Integration.

He said that negotiations with the Nicaraguan government continue and only need to define the rates of buying and selling of energy, which he estimates will cost an average of $ 118 per megawatt produced, with an annual increase of 13%.

Link to Original Article:

From La Prensa Grafica

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