Nicaragua Turns To Wind Power, Builds 19 Windmills

Source: Inside Costa Rica

Energy Minister Emilio Rappaccioli said the us$90 million project will be operating at full capacity by the end of January and contribute 6 percent of the country's total energy needs.

Nicaragua successfully ended rolling blackouts that left the country without power for hours on many days, but the government struggled to pay higher energy costs as oil prices peaked at more than $147 a barrel earlier this year.

Rappaccioli said the new project will save about us$9 million a year in fuel costs, at current prices. The lead developer on the operation is Arctas Capital Group LP of Houston, Texas, which says it is in advanced stages of development for another 40-megawatt installation.

Wind is part of Nicaragua's efforts to reduce its dependence on oil-based energy to just 3 percent by 2013. The country has also turned to geothermal power from volcanoes, hydroelectric power generated by rivers and sugarcane based ethanol. Those sources provide 34 percent of Nicaragua's energy.

Ernesto Martinez, executive president of the Nicaraguan Energy Company, said recently that Russia will finance and build two geothermal plants in Nicaragua with the capacity to produce 250 megawatts. And on Tuesday, Rappaccioli said Iran, Brazil and Mexican billionaire Carlos Slim have also expressed interest in investing in the country's renewable energy efforts.

Read more: http://insidecostarica.com/dailynews/2008/december/29/reg02.htm

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Spending $90 million which would be recouped in ten years at current oil prices. Now how is this a bad business investment?

Looks as if they've got multiple interested partners now, assisting them, so they will be far less likely to be intimidated by one aggressive neighbor!

Best wishes to them, may they firmly succeed.

I knew Daniel Ortega back in power would result in good things