Nicaragua: $33 Million Approved for Solar Power

The National Assembly has approved a loan of $33 million with the South Korean bank Eximbank, to install solar panels in 15 municipalities, and another $10 million for electrification works in the Caribbean.

Thursday, June 16, 2016

The $33 million loan with the Import and Export Bank of South Korea will be used to fund the installation of solar panels in 15 municipalities in the Autonomous Region of the North Caribbean, the Autonomous Region of the South Coast and in the department of Rio San Juan .

"... 9,276 individual panels will be installed, along with 896 panels in group systems, 820 panels in health centers, 164 panels in community centers, 328 panels in schools, making a grand total of 11,484 solar panels to be installed with the implementation of this project. "

Funding of $10 million from the OPEC Fund for International Development (OFID) will be used to build electricity distribution networks in different areas of the South and North Caribbean Coast. A statement from the National Assembly said that the work will be carried out by the National Electricity Transmission Company (ENATREL).

The project will be divided into two components: the first is related to the electrification of rural communities, including La Liberia in the municipality of Mulukukú and the community of Tasbapouni belonging to Prinzapolka ... and the second "... is for the replacement of distribution systems and construction of 141 km of electricity distribution networks in the urban settlements of Waspán, Puerto Cabezas, El Rama, Rosita, La Cruz de Río Grande, El Ayote, Laguna de Perlas, Desembocadura de Rio Grande and in Bocana de Paiwas. "

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More on this topic

Investment in Solar Energy for $23 million

February 2018

Using funds from the government of South Korea, the plan is to implement the second phase of the energy program with solar panels in communities in the Caribbean area.

Elnuevodiario.com.ni reports that "...The Korean Embassy in Managua has confirmed a new investment of US $23 million to support the second phase of the solar energy generation program, which aims to benefit some 17,000 families and 380 schools with the installation of solar panels in isolated communities in the Caribbean in Nicaragua."

Nicaragua: $10 million for Electrification

November 2017

With a loan from OPEC, the second phase of the rural electrification project on the Caribbean coast will be financed.

The decree must still be approved by the National Assembly, which will receive it in the coming days. The loan was agreed between the Ortega administration and the Organization of Petroleum Exporting Countries. 

Korea Sells Solar Panels to Honduras for $45 million

February 2014

The project to provide electricity to 18 thousand families using solar energy will be funded by the Export -Import Bank of Korea at 0% interest.  

According to the agreement signed by the Honduran government, "suppliers of the goods and services necessary for the implementation of the project will be selected through public competition between companies in South Korea."

Extension of Electricity System in Nicaragua

January 2014

Empresa Nacional de Transmisión Eléctrica has taken out a $48 million loan from South Korea for new substations and distribution lines.  

From a press release by Empresa Nacional de Transmisión Eléctrica (Enatrel):

The Government through Empresa Nacional de Transmisión Eléctrica (Enatrel) has signed a cooperation contract with company representatives from DAEWOO International Corporation and Hyundai Engineering, Company Limited, in the amount of $25 million, resources which are to be invested in building the new substations El Sauce, in the department of León, and Ocotal, Nueva Segovia, and also in the expansion of substations San Ramon, Matagalpa and Esteli, in the department of Estelí. In addition assembly of transmission 138 kV (kilovolt) lines will be made to link these to the National Interconnected Electrical Substation .

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