$ 30 million IDB Loan for Geothermal Plant in Nicaragua

The loan to Polaris Energy Nicaragua, builder and operator of the San Jacinto-Tizate geothermal plant, will allow increased electricity generation.

Wednesday, March 9, 2011

The initiative aims to expand the existing generating unit of 10 MW to a total of 72 MW by leveraging additional resources and the installation of two new turbines of higher capacity. After expansion, the San Jacinto plant will produce enough energy to supply electricity to nearly one in twelve households in the country.

"This project is not only an expansion for generating electricity. It is also about transforming the country's energy matrix, to reduce dependence on imported fossil fuels and increase competitiveness in the long term," said Hans Schulz, General Manager of the Structures Finance Department of IDB.



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Geothermal Energy in Nicaragua

March 2012

The volcanic mountain range of los Maribios could potentially generate more than 1,500 megawatts for the country.

Studies by the Ministry of Energy and Mines (MEM) estimate that the volcanoes of the Los Maribios range, along the Pacific area, could give the country a generation potential of more than the 1,500 megawatts in 12 areas or geothermal fields, a capability that could liberate Nicaragua from dependence on oil as a source of electricity.

Geothermal Project Receives $160 Million Financing

September 2011

The San Jacinto Tizate geothermal project in Nicaragua, has received an initial installment of $104 million in financing, from a total loan of $160 million, which will be used to complete work on the second phase.

Antonio Rodriguez, CEO of San Jacinto Tizate, told El Nuevo Diario that part of the work is completing the installation of a second turbine.

Nicaragua to expand geothermal energy with IDB help

August 2010

A $40 million loan will support the expansion of the San Jacinto-Tizate project, boosting power generation capacity

The Inter-American Development Bank (IDB) announced the approval of a $40 million loan to finance the second phase expansion of the San Jacinto-Tizate geothermal power project, which is being developed by a private sector company, Polaris Energy Nicaragua S.A. (PENSA).

Expansion of Geothermal Energy Project Begins in Nicaragua

December 2009

Geothermal energy plant "San Jacinto Tizate" is expected to generate 46 MW in early 2011.

$57 million have been invested so far, and $92 million must be invested in the next stage, according to official sources.

"President Daniel Ortega was present in Telica, Leon, for the inauguration of these works, which comprise drilling new wells and erecting the plant", reported Epa.

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