On August 20th and 21st energy companies in the sector in Latin America will meet in Managua to discuss issues related to energy management in the countries of the continent.
The Latin American Energy Organization and the Ministry of Energy and Mines of Nicaragua are organizing the event, to be held on 20th and 21st August in Managua.
During the VIII Petrocaribe Summit it was reported that the rate of interest on oil bills will be changed, increasing from between 2% to 4%.
The Guatemalan Vice President Roxana Baldetti, explained that Venezuela has modified the interest payment according to oil and oil supplies for more than a dozen Latin American countries. Guatemala's concern is so great that it no longer considers the agreement attractive and could move away from it.
The regulatory agency has authorized the company Hidroxil to use the flow from the Suchum and Xacbal rivers to install a hydroelectric plant.
The hydroelectric project, La Vega I, in its first stage will generate 38 megawatts.
"According to the Ministerial Agreement 099-2011 published yesterday in the official gazette, the entity Hidroxil may use the flow from the two rivers for a period of 50 years.
Foreign direct investment in Nicaragua went from $335 million in 2007 to $600 million in 2008.
During 2009, the state agency for investment promotion, Pro-Nicaragua, expects to capture $600 million in investments, mainly in the energy sector.
An article published in Prensalibre.com reported that the executive director of Pro-Nicaragua, Javier Chamorro, explained that "the Nicaraguan Ministry of Energy and Mines recently signed a memorandum of understanding with the Andrade Gutierrez Company of Brazil for the development of feasibility studies at the Brito Hydroelectric plant located in the northern part of the country, whose investment cost is estimated at $300 million."
The XIII Regional Forum on "Renewable Energy in Isolated Rural Areas in Central America" will be from March 18 – 20 in Managua.
The event is co-sponsored by Finland, Austria and the Ministry of Energy and Mines in Nicaragua, among others.
The meeting will be attended by Austrian and Finnish companies to present products and technologies they have applied in the field of renewable energy sources.