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. 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. Nicaragua: Tumarín Hydro Power Plant Starts in MayWednesday, February 3, 2010 Construction of the $600-million project is expected to start no later than May 2010. This project will contribute 25% of the country’s energy supply, and could be operational in 2014. Tumarín Dam: Up till Now Just a News StoryThursday, August 9, 2012 The Tumarín hydroelectric project by the Brazilian company Centrales Hidroeléctricas de Nicaragua, has not recorded any material progress, despite repeated announcements of the start of construction. An article published in Elnuevoherald.com reiterates statements by the President Centrales Hidroeléctricas de Nicaragua, Marcelo Conde, that financing of $1.110 billion, the cost of the works, is being secured with the Central American Bank for Economic Integration and the Banco Nacional de Desarrollo Económico Social de Brasil, and that construction will begin in the next few months. New Law Revives Hydroelectric Station TumarínWednesday, November 14, 2012 A reform of the special law in Nicaragua for the hydroelectric project Tumarín raises its potential to 253 MW, making the investment estimated at $1.1 billion feasible. There have been many announcements about the start of works on the Tumarín project which never really took shape. Now, through the reform of the mother law of the project, the government of Nicaragua has been forced to give greater tax benefits in order to provide adequate financial feasibility to investors, especially to Brazil. Nicaragua: Tumarín Hydro Power Plant Moves ForwardMonday, January 25, 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. Nicaraguan Congress Approves Tumarín ProjectThursday, July 2, 2009 The project with a cost of $500 million, which aims to generate 180 megawatts for the country, was approved in the National Assembly. 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. |
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