Nicaragua Announces New Investments in Hydropower

The Investment Promotion Agency of Nicaragua has announced further investments by Hemco for $50 million in two hydroelectric power stations that will generate a total of 20MW.

Wednesday, December 21, 2011

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.

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