The authorities announced that a 3% reduction in the price of electricity will be applied as from July 1st, a reduction that would be not enough in the current context of tariff increases.
The Government informs that as of July 1st of this year 2020, Nicaraguan families will enjoy a 3% reduction in electricity rates, which in addition to benefiting the users of the energy service, contributes to guarantee the technical and economic stability of the Electricity Sector, says an official statement.
Because of the political and economic crisis affecting the country, diesel consumption in Nicaragua is reported to have fallen 5.3% between January and May compared to the same period in 2018.
Statistics of hydrocarbon sales of the Ministry of Energy and Mines (MEM) during the first five months of 2019 the consumption of super gasoline reported a 2.5% decrease compared to the same period last year, and in the case of regular gasoline registered a slight increase of 0.3% for the periods concerned.
In the next five years the government expects to attract new private investment to add to the 1300 MW of renewable energy projects in the energy matrix.
Currently, 80% of power generation plants operating in the country are privately owned, and the Ortega administration has announced that it will continue to offer attractive terms to encourage the arrival of new private investment into the energy sector.The 2017-2030 plan envisages the incorporation of 1300 MW into the energy matrix,"... '(projects) that are open to all national and foreign investors who are participating.'"
The Ministry of Energy and Mines in Nicaragua is putting out to tender a supply of 20,000 LED lamps to be installed in government institutions.
Nicaragua Government Purchase 8/2016:
"To acquire and install 20,000 LED lamp units in public institutions in order to reduce energy costs, meeting the technical, economic, financial and logistical requirements, as well as suggesting potential savings schemes using efficient technologies as a result of diagnoses made for 50 institutions of government in the second half of 2013.
The private sector disapproves the action taken by the Ministry of Energy to reduce the amount of energy generated from wind and bagasse which is injected to the national grid.
This measure which seeks to reduce the energy input of these sectors comes at a time when wind and bagasse plants are operating at full capacity, therefore there is a direct impact on their finances.
Representatives from the two governments signed an agreement for exploration of investments in Nicaraguan geothermal energy.
The agreement was signed by Minister of Industry and Innovation in Iceland Elin Ragnheidur Arnadottir and the Minister of Energy and Mines, Emilio Rappaccioli from Nicaragua.
Elnuevodiario.com.ni reports that "... The Icelandic delegation also included an expert in geothermal parks, Albert Albertson, who visited volcanic areas and power generation projects being developed by Nicaragua in the geothermal sector."
The Ministry of Energy and Mines has granted to the Canadian company Blue Stone Gold Mining a 25 year mining exploration concession in the municipalities of Prinzapolka, Siuna and Rosita.
The area granted in concession for mineral exploration area covers 25,692 hectares in the municipalities of Prinzapolka Siuna and Rosita, in the autonomous region of the North Atlantic.
On August 20th and 21st energy companies in the sector in Latin America will meet in Managua to discuss issues related to energy management in the countries of the continent.
The Latin American Energy Organization and the Ministry of Energy and Mines of Nicaragua are organizing the event, to be held on 20th and 21st August in Managua.
Hidroenergy de Nicaragua has received an endorsement to build and operate four hydroelectric plants with a total generating capacity of 22.5 MW.
During the first five months of 2014 the Ministry of Energy and Mines (MEM) has granted the company Hidroenergy of Nicaragua licenses for the hydrolectric stations Santa Elisa, with generation capacity of 8.7 MW and La Esperanza which will produce 7 MW, both in Matagalpa.
The concessionaires of the India and San Albino Murra mines are carrying out the feasibility studies needed to obtain approval to begin operations.
The India mine, owned by the concessionaire Condor Gold, is the one which is closest to operations, assuming the feasibility studies give good results.
Carlos Zarruck, Director of Mines at the Ministry of Energy and Mines (MEM), said in an article on Laprensa.com.ni that "investment by the company in this area amounts to $150 million. "India Mine is the next industrial that could be the same size as El Limon mine or the Bonanza mine, in terms of exploitation," he added.
Given the perennial delay over Tumarín, Nicaragua is considering reactivating and concessioning the Copalar hydroelectric power project which has a capacity of 150 MW and a cost of $213 million.
This is one of the projects in the the Nicaraguan Government's contingency plan which will be undertaken instead of Tumarín, in the case that it does not come to fruition.
Uncertainty about the beggining of the project is worrying entrepreneurs in the energy sector.
Since 2012 the hydroelectric station should have been generating 253 MW, however, uncertainty over the project "puts at risk the country's goal of changing the energy matrix, which, according to the Minister of Energy and Mines, Emilio Rappaccioli, would result in 74% of the energy generated in 2018 coming from clean sources," reported an article in Laprensa.com.ni.
The government of Nicaragua is exploring funding options for the development of a plan for taking advantage of the country's geothermal potential.
The plan is to conduct studies on the potential of this kind of generation and offer the project to private investors. "We are in talks with financial institutions to see if we can get funding for such studies, to encourage and develop geothermal energy," said Lorena Lanza, Deputy Minister of Energy and Mines.
Noble Energy Limited has drilled to about 700 meters at its first exploration offshore oil well in the Nicaraguan Caribbean.
"Based on the report we had yesterday (from the company), now, in total, including the layer of water which is about 350 meters, it is has reached 1,000 meters. There are almost 700 meters of drilling on the seabed," said Nicaraguan Minister of Energy and Mines, Emilio Rappaccioli.