A statement by PRONicaragua reads:
HEMCO, a company engaged in mineral exploration and hydroelectric power, recently announced plans to invest a total of $50.5 million in the installation of two renewable energy projects in Nicaragua, which have the capacity to generate 20MW.
The company will start building the ‘El Diamante‘ hydroelectric project, which will be located in the department of Matagalpa, in March 2012, with a nominal capacity of 5 MW. During its construction phase it will generate 220 direct jobs and will be up and running in January 2014.
The second hydroelectric project, ‘Punta Piedra’, to be located in the North Atlantic Autonomous Region (RAAN), will be started in May 2012 and will generate 200 new jobs. This renewable energy plant will have a nominal capacity of 15 MW.
The company has also invested in the exploration of a mine in Bonanza, Nicaragua, a forestry project and the construction of a business outsourcing process (BPO), in the capital. In 2009, HEMCO also began to install an additional turbine for the ‘Siempre Viva’ hydroelectric project in the RAAN, Nicaragua.
More on this topic
April 2010
22 new energy generation projects are planned for the next four years.
They will add 1.061 MW to the country’s power grid, an 87% increase over Panama’s current energy generation capacity (1.208 MW).
“The focus will be put on hydroelectric power generation projects, in which $1.73 billion will be invested”, reported Panamá América.
October 2011
The dam, which will generate 253 megawatts of power, requires an investment of $1100 million over four years.
Constructing two camps to house staff and space for the machinery to be used in the project will form the basis of the preparation phase prior to the start of construction of the hydroelectric dam.
September 2011
The Inter-American Investment Corporation has approved a loan for the Panamanian hydroelectric project ‘San Lorenzo’, a plant that will generate 40 GWh per year.
The IIC loan to San Lorenzo Hydro, S.A. in Panama will help to promote renewable power generation.
Washington, D.C.
January 2011
The government granted licenses to two companies for operation and maintenance of two hydroelectric power plants.
The permits were granted to Hidroeléctrica Piedra Puntuda S.A. and to Energía Tropical Sostenible Cerro Frío S.A.
"The first permit is for project Piedra Puntuda, which will build a hydropower plant with an installed capacity of 15 megawatts at Mico River, in the municipality of Muelle de los Bueyes, in the Southern Caribbean ... The second permit is for Las Cañas Hydroelectric Plant, in the northern province of Matagalpa and includes the construction of a hydroelectric plant of 1.47 MW of installed capacity, which will use the Yasica river, affluent of the Tuma River ... " states the article in EFE.
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