Nicaragua is a dynamic energy market, rich in geothermal energy and a clear roadmap for future development.
Representatives of the governments of Latin America and the Caribbean, specialists, investors and executives from multilateral funding agencies gathered today in Managua to discuss the development of the geothermal industry in the region.
In the third Congress on Geothermal Energy for Latin America and the Caribbean (GEOLAC, for its acronym in English), opportunities for increased geothermal production against obstacles to development will be explored, said energy director Bank World (BM), Charles Feinstein, during the inauguration.
The exchange of knowledge and experience will also be promoted, and new encounters and relationships will be provided, the WB official said, which co–organizes the event.
Feinstein mentioned among the challenges for the geothermal industry, availability of resources and legal frameworks of each country, as well as infrastructure.
In this regard, he said that the WB has $ 150 million available for clean energy investment in Latin America and the Caribbean.
In his speech, WB executive also noted that Nicaragua is a dynamic energy market, rich in geothermal energy and a clear roadmap for future development.
CEO of Nicaraguan state Electricity Company (Enel), Ernesto Martinez Tiffer, said that Nicaragua has 152 megawatts (MW) of installed capacity in two geothermal fields within the national grid.
He explained that develops geothermal energy currently 10% of a total of 1,500 megawatts estimated potential and the plan is to grow up to 50% in the medium term.
The event will conclude with a visit to San Jacinto Tizate geothermal field, west of the country, operated by Polaris Energy Nicaragua SA (PENSA), with an installed capacity to generate 77 megawatts (MW) of power capacity.