Brazilian constructor sets up in business in NicaraguaTuesday, May 20, 2008 Brazilian construction company Queiroz Galvao has gone into business in Nicaragua. From offices in Managua, Queiroz Galvao is seeking strategic alliances to develop a number of projects. Nicaragua: Construction of Tumarin Hydro Plant to Start in MarchMonday, January 31, 2011 The company Queiroz Galvao announced that works will begin in March, with an estimated investment of $1.100 million. The hydroelectric plant, capable of generating 253 megawatts, would come into operation in late 2014. New Push for Tumarín Hydroelectric in NicaraguaMonday, June 1, 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. Government of Nicaragua Angry with BraziliansMonday, July 21, 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. Tumarín Hydro Station Agreement SignedMonday, August 25, 2014 Although the cost per MW has not yet been defined, the government of Nicaragua has signed a construction contract with the Brazilian consortium and announced that work will begin in the first quarter of 2015. After several failed attempts to start construction of the hydroelectric dam Tumarín, the government announced that it has reached an agreement with the consortium Eletrobras and Queiroz Galvao to start work in the first three months of 2015. New Setback for Tumarín Hydroelectric StationMonday, August 11, 2014 Nicaragua's government has terminated a contract for the construction of a road between San Pedro del Norte and Tumarín, the access route to the project site. The decision not to grant the necessary funds for the construction of the road connecting the project area is based on a cut made to the Public Investment Program, which was going to allocate $708,000 for the works. New Announcement for Start of Works on Tumarín Hydropower ProjectFriday, October 11, 2013 The announcement of the start of construction was made by Lorena Lanzas, Deputy Minister of Energy and Mines of Nicaragua. The power plant will be built in the town of La Cruz de Rio Grande in the South Atlantic Autonomous Region (RAAS). Timeframe defined for Start of Tumarín Hydro StationMonday, March 24, 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. Nicaragua: $48 million in Funding for EnergyWednesday, October 30, 2013 The government has signed a loan agreement with South Korea for financing of the second phase of the National Sustainable Electrification and Renewable Energy Program. Nicaraguan Government officials said the loan "will strengthen the transmission, among others, at the Tumarín hydroelectric project, run by the company Centrales Hidroeléctricas de Nicaragua (CHN), created by the Brazilian state Eletrobras and conglomerate Queiroz Galvao." Brazilian companies will build hydroelectric plant in NicaraguaFriday, August 1, 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%. Tumarín will be built by the Brazilian State Electric Business (Eletrobras) and the company hydroelectric power stations of Central America INC., that belongs to the Brazilian group Queiroz Galvao. During the construction phase, the Tumarín project will create some three thousand direct and indirect jobs. By being an energy project of more than 30 megawatts, Tumarín will have to be approved by the National Assembly to initiate its installation in the country because the energy produced will exceed 30 megawatts. Tumarín Hydroelectric Project to Start in NicaraguaMonday, October 10, 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. End of the Line for Tumarín Hydroelectric Station?Thursday, May 26, 2016 It has been announced that a court in Brazil has suspended the granting of funds to the project in Nicaragua, arguing that the financial situation of Eletrobras does not justify making an investment abroad. A precautionary measure approved by Tribunal de Cuentas de la Unión(TCU), the watchdog of use of state resources in Brazil, has suspended the transfer of resources which had been allocated to Eletrobras for the construction, in consortium with the construction firm Queiroz y Galvao, of the Tumarín hydroelectric station in Nicaragua. How Much Will Each MW at Tumarin Cost Nicaragua?Tuesday, March 25, 2014 Conditions of the agreement between the Nicaraguan government and the consortium of Brazilian companies are unknown. In regards to the agreement for the construction of the hydroelectric station only the price of the energy generated is known, which will be between $118 and $125 per megawatt. Nicaragua: Uncertainty in Energy SectorThursday, May 19, 2016 The lack of clarity about the future of the concession of the Tumarín hydroelectric project may be forcing other investment projects in the energy market to be put on hold. The Ortega administration has not yet announced what process will be followed in order to re start the 253 MW hydroelectric construction project, whose concession was awarded directly by the government to the consortium made up of Eletrobras and Queiroz Galvao. Nicaragua: Tumarín Prices Remain HiddenWednesday, September 10, 2014 In order to plan their investments, employers from the energy sector are asking for information on the prices negotiated for the electricity that will be provided by the operator of the Tumarín hydroelectric station. Prensa.com.ni reports that "... Not knowing the rate charged for the generation of electricity from the Tumarín hydroelectric station causes uncertainty for other investors in the sector due to the fact that they do not know the conditions in which they would be competing and therefore, whether or not to promote new projects. The private sector is demanding transparency from the government and that they disclose details of the agreement with Centrales de Hidroeléctricas de Nicaragua (CHN), the concessionaire of Tumarín. " |
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