Canada's Polaris to invest US$96 million in Nicaragua geothermal project

Canada's Polaris Geothermal said it plans to invest US$96 million in increasing its geothermal capacity in Nicaragua.

Tuesday, May 27, 2008

The project will be jointly financed by Polaris, the Central American Bank of Economic Integration – which has already pledged a US$20 million advance – and other institutions.

More on this topic

El Salvador's Geothermal Potential

August 2013

With an investment of $1.5 billion El Salvador could add 440 MW to the 204 MW already produced with geothermal energy sources.

The projections were made by Julio Valdivieso, president of the company LaGeo . Furthermore, Toshitaka Takeuchi, energy specialist at the Banco Interamericano de Desarrollo (BID), said El Salvador could generate up to 644 megawatts (440 megawatts more than it already has as installed capacity).

Geothermal Energy in Nicaragua

March 2012

The volcanic mountain range of los Maribios could potentially generate more than 1,500 megawatts for the country.

Studies by the Ministry of Energy and Mines (MEM) estimate that the volcanoes of the Los Maribios range, along the Pacific area, could give the country a generation potential of more than the 1,500 megawatts in 12 areas or geothermal fields, a capability that could liberate Nicaragua from dependence on oil as a source of electricity.

“Dry” Geothermal Energy Exploitation

January 2011

GTherm, the owner of the patent, is negotiating with Instituto Costarricense de Electricidad (ICE) to develop a 12 MW pilot project.

Within ICE's strategy to develop clean electricity sources, since October 2010 it is negotiating a pilot project to generate electricity by harnessing geothermal energy in the subsoil, a rich resource in Costa Rica.

Nicaragua to expand geothermal energy with IDB help

August 2010

A $40 million loan will support the expansion of the San Jacinto-Tizate project, boosting power generation capacity

The Inter-American Development Bank (IDB) announced the approval of a $40 million loan to finance the second phase expansion of the San Jacinto-Tizate geothermal power project, which is being developed by a private sector company, Polaris Energy Nicaragua S.A. (PENSA).

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