The project belongs to the company Eolo of Nicaragua, who have invested $160,536,670 according to records at the Ministry of Environment and Natural Resources (MARENA).
The construction is being managed by the Spanish company Gamesa. Allan Moreno, construction manager for the company, said that they plan to perform the first tests of the wind farm in November and then deliver the finished works to Eolo de Nicaragua, reported Elnuevodiario.com.ni.
Moreno explained that "the wind farm will consist of the installation of 22 wind towers with their respective turbines, and each will have a production capacity of 2 MW, so that in total energy production from wind power will be 44 MW."
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Globeleq Generation Limited (Globeleq), an energy company, announced the acquisition of a 100% stake in the project Eolo de Nicaragua S.A. which aims to generate 44 MW.
Eolo is in the province of Rivas on the shore of Lake Nicaragua, about 125 kilometers south of the capital, Managua.
Project "Eoleo" aims to generate 44 MW of renewable energy in Rivas, Nicaragua.
The privately funded initiative will be financed with $90 million in loans from European banks and $25 million provided by Nicaraguan investors.
It will boast 22 generators, 18 of which will be located on the shoreline of Lake Nicaragua, while the remaining four will be placed on the west side of the Pan-American Highway.
With four wind farms set up in the department of Rivas, the country is exploiting only 23% of a potential of 800 megawatts.
Although $417 million has already been invested in the construction of new wind farms in the country, there is still ample room to install more and take advantage of this kind of renewable energy generation.
Acciona Energía will construct and operate the 49.5 MW wind power plant in Chiripa, north west Costa Rica.
The energy company was awarded the contract as a result of an invitation to tender held by Costa Rica's state-owned electricity and telecommunications provider (ICE).