Globeleq Acquires Wind Farm in Nicaragua

Globeleq Generation Limited (Globeleq), an energy company, announced the acquisition of a 100% stake in the project Eolo de Nicaragua S.A. which aims to generate 44 MW.

Thursday, April 26, 2012

Eolo is in the province of Rivas on the shore of Lake Nicaragua, about 125 kilometers south of the capital, Managua. The electricity will be produced using 22 wind turbines of 2.0MW each, and will be sold through two trade agreements for the purchase of energy within 20 years to the private companies Distribuidora Eléctricidad de Sur S.A. (DISSUR) y Distribuidora Eléctricidad de Norte S.A. (DISNORTE), both subsidiaries of Gas Natural from Spain.

From a statement by Globeleq:

"The addition of another renewable, and quality wind project, to our portfolio enhances our position as the leading wind energy producer in Central America ' said Mikael Karlsson, CEO of Globeleq, referring to its operational wind farms in Costa Rica and Honduras. ‘The Aeolus project allows us to leverage a natural and clean resource to bring significant environmental benefits in the long run for Nicaragua’, he said. Eolo is in the final stages of its registration as a project in the Clean Development Mechanism (CDM ) under the Kyoto Protocol, which allows it to issue carbon credits for sale on international carbon markets.”

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Third Wind Farm Built in Nicaragua

April 2012

Work has begun on a new park in the Isthmus of Rivas, a $160 million project which will generate 44 MW.

The project belongs to the company Eolo of Nicaragua, who have invested $160,536,670 according to records at the Ministry of Environment and Natural Resources (MARENA).

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