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.
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.
However Emilio Rappaccioli, Minister of Energy and Mines, "made no mention of the energy rate that was negotiated and would only say that "we are signing the document ensuring that the project will become a reality, and construction will be starting, I would say, in three or four months time, concluding at the end of 2018. "
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.
In a period of no more than four years the Government has set to have the hydroelectric dam on Rio San Juan built.
With a $ 600 million investment, the Brito Project will become the largest source of electricity generation in the country by the year 2015, with a capacity of 250 megawatts.
Elnuevodiario.com.ni reports, "The Ministry of Environment of Nicaragua has renewed the license to a Brazilian business group for feasibility studies.
The government authorized the construction of the 12MW hydroelectric power plant called “Hidropantasma”, over river Pantasma in Jinotega.
Emilio Rapaccioli, Nicaragua’s energy minister, explained that works are scheduled to begin on August 2010, and should be completed by July 2012.
The consortium in charge of the project is composed, in equal shares, by GrupoCorporativo SARET Nicaragua and the Central American division of Spain’s FCC (Fomento de Construcciones y Contratas S.A.).