Nicaraguan Congress Approves Tumarín Project

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

Thursday, July 2, 2009

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.

Ary Pantoja writes on El Nuevo Diario’s website: “According to the president of the Parliamentary Commission of Infrastructure and Public Services, Eliseo Núñez Hernández, the deposit guarantees the fulfillment of the Brazilian consortium which is represented in Nicaragua by a company named Central Hidroelectrica de Nicaragua (CHN), which was created on September 12, 2007.”

More on this topic

Nicaragua: Tumarín Hydro Power Plant Moves Forward

January 2010

Business sources indicate that the $625 million project would begin construction in 2010, in spite of having a pending judicial resolution.

The plant will be located in Nicaragua's south Caribbean coastline, and will be capable of generating 220 MW of power.

Marcelo Conde, president of "Centrales Hidroeléctricas de Centroamérica" (CHC), explained they are negotiating the purchase of 300 lots, to create a 50 square kilometer reservoir.

Tumarín Hydroelectric Project to Start in Nicaragua

October 2011

The dam, which will generate 253 megawatts of power, requires an investment of $1100 million over four years.

Constructing two camps to house staff and space for the machinery to be used in the project will form the basis of the preparation phase prior to the start of construction of the hydroelectric dam.

New Push for Tumarín Hydroelectric in Nicaragua

June 2009

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

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.

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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AES Panamá

AES Panama is the largest electricity generation company in Panama, in terms of installed capacity as well as delivered energy. AES Panama is a subsidiary of AES Corporation, with headquarters in Arlington, Virgina, United States, and holds the 49% of shares in the operations of this generating company. Since late 2007, AES Panama owns four hydroelectric plants with an installed capacity of 482 Megawatts: Bayano (260 MW), Estí (120 MW), La Estrella (47.2 MW), and Los Valles (54.8 MW). Our main clients are the three energy distribution companies in Panama: Elektra Noreste, S.A., Empresa de Distribución Eléctrica Metro-Oeste, S.A., and Empresa de Distribución Eléctrica Chiriquí, S.A., which represent the 95% of the company’s energy sales. The remaining 5% corresponds to energy sales to Great Costumers, which are businesses with monthly energy consumption greater than 100 kilowatts.
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