New Push for Tumarín Hydroelectric in Nicaragua

The $350 million concession for the execution of the hydroelectric project is pending approval by the national assembly.

Monday, June 1, 2009

The consortium that will build the project that is expected to generate 180 megawatts is composed of the Brazilian group Queiroz Galvao, the Brazilian state-owned Petrobras Company, Nicaraguan businessmen linked to the Production and Finance Banks and the Italian Company Astaldi. 25% of the funds will be approved by investors and the remaining 75% by the Development Bank of Brazil.

At this time, according to what was reported in Elfinancierocr.com, an Environmental Impact Analysis is being conducted and all that would be left if for the National Assembly of Nicaragua to approve the concession.

More on this topic

Government of Nicaragua Angry with Brazilians

July 2014

A proposal has been made to demand a definite time frame from the Brazilian consortium Eletrobras and Queiroz Galvao to start the construction of the hydroelectric dam Tumarín, which has been announced several times but has never materialized.

Presidential adviser Bayardo Arce told Laprensa.com.ni that it has been suggested to the government of Daniel Ortega that a deadline be set for the start of the work, seeing as the project should have started in July and to date, the consortium has only demanded additional compensation without giving details on the start of the project.

Timeframe defined for Start of Tumarín Hydro Station

March 2014

Nicaragua and the concessionaire CHN have signed a concession agreement in which the Brazilian company promises to start construction in mid-2014.

The largest hydroelectric project in Nicaragua has so far read like a never ending story, as over the last few years a number of announcements have been made for the start of its construction, which until now has been hampered by lack of agreement on the tariffs that will be set by the Brazilian company for electricity sales.

Nicaraguan Congress Approves Tumarín Project

July 2009

The project with a cost of $500 million, which aims to generate 180 megawatts for the country, was approved in the National Assembly.

The Special Law for the Development of the Hydroelectric Project in Tumarín establishes, among other things, a deposit of $42 million to the company that will execute the project as a guarantee it will be done.

Brazilian companies will build hydroelectric plant in Nicaragua

August 2008

Two Brazilian companies will participate in the construction of an ambitious hydroelectric program in the northern part of Nicaragua

The hydroelectric project Tumarín, is expected to be fully functional by the end of 2012. The project will increase the percentage of hydroelectric energy that is produced in the country from 18 to 36%.

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