Polaris Energy has announced an investment of $43 million in drilling new wells to increase generation capacity from 50 to 72 MW.
The company Polaris Geothermal Energy is aiming to increase its production capacity in Nicaragua and go from 50-72 MW of power. The information was confirmed by the CEO of the company, Alex Orono, during an appearance before the board of the Chamber of Industries of Nicaragua (Cadin), confirmed Elnuevodiario.com.ni.
The company aims to increase its market share in the country and plans to invest $80 million in the construction of a fuel storage facility.
The company is preparing to build its own infrastructure in order to increase its business in the Panamanian market. Besides the construction of the plant, Puma Energy is looking to venture into new lines of business, such as selling jet fuel and asphalt manufacturing and lubricants.
The electricity distributor Delsur will be investing $14 million in 2015 in the construction of new substations and the purchase of technical and protective equipment.
In 2014 the distribution of Electricity Delsur invested $13 million in several works to strengthen its electrical system, and this year representatives announced plans to increase the amount to $14 million, to be allocated to the expansion of the electricity network, the modernization of the commercial system which that measures the energy consumption of users, and the acquisition of new technical equipment, among other things.
Keeping limits on private power generation blocks investments and removes the possibility of reducing prices and improving competitiveness.
According to the Costa Rican government authorities, the country's electricity demand is covered until 2019, an argument which has been used to rule out the draft Contingency Power Act, which proposed increasing private power generation in the country.
The Solis administration is opposed to the Power Contingency Act which would enable private power generation and force the state run power company to compete.
Arguing that there is no need for it because 'demand is being met," the executive branch is opposing the Contingency Power Act because" ... it would be contrary to the model of energy development in the country, contrary to what has been discussed in the discussion tables on energy."
Banking, energy and industry are the sectors where Gazprombank, the largest private bank in Russia, are exploring opportunities to finance projects in Guatemala and Latin America.
Representatives from the Russian company visited Guatemala to analyze the market and consider potential investment opportunities in sectors such as banking, energy and industry.
The textile firm Hanes Brands has announced the construction of a power plant based on Kingras, capable of generating between 2.5 MW and 5.5 MW.
Representatives from Hanes Brands in El Salvador indicated that the purpose of the investment is "... to reduce energy demand and reduce costs. It has been estimated that the installed capacity will allow for a self-sufficiency energy level of 60% for making textiles. "
The Executive is proposing a reform of the law on exploitation of geothermal resources to extend the period of the concessions granted to foreign companies from 25 to 30 years.
In order to encourage investment in the energy sector, the reform of the "Law on Exploration and Exploitation of Geothermal Resources" , sent by President Daniel Ortega to Parliament also proposes increasing the extendable term requested from the State by companies with exploitation rights, from 10 to 30 years.
The businessman Fernando Paiz has signaled his intention to increase investment in the agricultural, hospitality, energy and food industries.
Clear rules, stable economic growth and an investment-friendly environment are, according to the Guatemalan businessman Fernando Paiz Andrade, the main attractions for increasing investment in Nicaragua.
Paiz said to Laprensa.com.ni: "Nicaragua to me is a very important market.
The presidents of both countries have signed an agreement to build a $1 billion pipeline which could spread southwards in the future.
Construction of the pipeline, which will cover 600 km connecting Oaxaca in Mexico, with Escuintla in Guatemala, will be completed in a period of four years and will include a gas-fired power plant capable of generating 300 megawatts (MW).
The president-elect has announced that if it is necessary he will change the restrictive approach on electricity generation by private companies promoted by the Citizens Action Party.
So far the party of the newly elected president has postulated restricting power generation by private companies to a maximum of 15% of the total generated nationwide. Luis Guillermo Solís himself had declared he was "pro-ICE" in relation to the Instituto Costarricense de Electricidad, the state company that dominates a quasi monopoly level of production of electricity.
The Monte Rosa mill will invest $100 million in a new boiler to increase the amount of power generated from bagasse from 32 to 55 MW .
The mill plans to increase the amount of energy generated based on sugar cane waste by investing in a new boiler. With this extra power, the company aims to supply about 10% of domestic demand.
"That will require an additional investment of about a hundred million dollars to install a new boiler that will allow us to grow from 6.3 million to 7.3 quintals of sugar per harvest. But the most important thing is not more sugar, but to generate more energy. We want to deliver 55 megawatt hours of clean renewable energy and have the ability to generate all year round, not just during the harvest ", said Bernardo Chamorro, general manager of Monte Rosa in an article on Laprensa.com.ni .
The transnational solar company Isofoton has signed a letter of intent for a photovoltaic power project in the country's south with the Honduran government.
As noted in an article in Elheraldo.hn, if the project's feasibility is established, investment could reach up to $200 million in the plant to generate electricity using solar technology to produce 50MW.