Nicaragua: $ 50 Million Loan for Wind Energy

©image: Land Rover Our Planet

The loan proceeds will enable BPE construction, commissioning and operation of 22 V90 Vestas generators of 1.8 MW each in Rivas, southwest Nicaragua. The wind park is expected to generate 138 GWh of electricity a year, contributing to an increase of over 5% of the country´s electricity consumption.

With this transaction, the IIC is helping promote the use of alternative renewable energy seeking to meet the growing energy demand while stopping dependence on fossil fuels. The project has a positive impact on the environment resulting in reduction of greenhouse gas emissions. It also represents savings by replacing with clean energy generation from inefficient thermal plants.

Source: Inter-American Investment Corporation

More on this topic

Nicaragua: IIC Funds for $ 50 Million Wind Project

February 2011

The Blue Power & Energy Trading Co. is negotiating funding with the IIC for construction of the La Fe-San Martín wind farm.

The proposed wind farm investment involves 22 wind turbines of 1.8 MW capacity each, Vestas V90 type, resulting in a total generating capacity of 39.6 MW per year.

Blue Power Hires Turbine Construction Company

September 2011

The company has selected the wind turbine manufacturer Vestas, to begin its project in Nicaragua.

Vestas received an order for the manufacture of 22 generating units of 1.8 MW each, for the wind project ‘La Fé’ (The Faith), which will generate 40 MW of energy and will be located in San Martin, Nicaragua.

Wind Energy Project Financing Deal Completed

July 2011

Blue Power has signed a financing agreement for $80 million with Bicsa bank, for the completion of the project in Nicaragua.

Once completed, the Blue Power & Energy wind generation farm will be able to generate 39.6 megawatts of clean energy, which corresponds to annual savings of $22 million for the country, according to Emilio Rapaccioli, the energy minister.

Nicaragua Authorizes Construction of Wind Power Farm

April 2010

The Energy Ministry green lighted Blue Power & Energy to build a 40 MW wind power farm.

It also granted the company a wind power generation license for the next 30 years.

“Blue Power will become the third company to produce wind power in Nicaragua”, reported Sdpnoticias.com. “Amayo I and II and Eolo Nicaragua, wind farms already operating in the country, have a combined capacity of 100 MWh”.