With funding for geothermal exploration by the Inter-American Development Bank for geothermal exploration for one specific site, Nicaragua plans more exploration at other sites as well.
The country of Nicaragua is likely blessed with the largest geothermal potential of all the countries in Central America. The country is said to have a potential of more than 3,000 MW of which 1,500 MW is seen as more realistic potential for development.
With an installed capacity of 109 MW, Nicaragua is lagging behind its peers Costa Rica, Guatemala and El Salvador.
Recently announced funding by the Inter-American Development Bank(IDB) of $51 million will be helping the country to expand exploration in the Cosigüina volcano. This is though seen as only a first step into the bigger efforts of the country to expand its renewable energy matrix.
“Producing renewable energy in these times is an important contribution” to the energy stability and to reduce the effects of climate change, the minister said after signing the loan agreement with the IDB representative in Nicaragua, Carlos Melo.
Nicaragua plans now to expand geothermal exploration efforts near six other volcanoes in the country.
Source: El Nuevo Diario