If the Brazilian consortium confirms its resignation of the Tumarín project, Nicaragua will have start a new process in order to tender the project which is indispensable for the country's development.
The construction of the hydropower station has been surrounded by secrecy and lack of transparency, conflicts of interest, legal and political uncertainty and cases of corruption in the investor's country. Although the suspension of the Tumarín project and the resignation of the concessionaire Centrales Hidroeléctricas de Nicaragua (CHN) has not been formalized, confirmation of this news would open new perspectives for companies and investors interested in Nicaragua's energy sector, which must continue to increase its capacity in order to meet the growing demand for electricity.
The rate for the Hydro station announced by the Brazilian ambassador to Nicaragua, will be in line with the prices of other renewable energy projects, according to entrepreneurs.
Although the government insists on not revealing the precise data, the Brazilian ambassador to Nicaragua and members of the National Assembly said that the fee is $115 Mwh, "... according to an agreement made March 20 this year."
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