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 millionto 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."
From October 16th to 28th, two groups of South Korean businessmen will be visiting Managua to explore opportunities for cooperation and investment in the country.
South Korean ambassador to Nicaragua, Seok Hwa Hong, explained that the entrepreneurs who will be coming to the country include representatives from companies in the fishing and aquaculture industry.
As part of the agreement a profile of the market has been created containing the requirements, permits and conditions for export to the Asian nation.
Nicaragua's National Assembly has adopted a Framework Cooperation Agreement between Nicaragua and South Korea. Among other things, the agreement aims to strengthen bilateral relations between the two countries improving trade and provide technical training and education to workers.
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 .