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Nicaragua secures further financing for Larreynaga small hydroelectric project

Nicaragua's government signed a financing agreement with the Central American Bank for Economic Integration for development of the Larreynaga hydroelectric project.

The bank will provide up to US$22.9 million, which will supplement the US$36.7 million originally approved for the 17-MW project, Business News Americas reported.

The project is located in Jinotega Province about 160 kilometers north of Managua.

Spain's Cobra engineering and construction firm began construction of the project last year.

The hydro plant, which will be operated by state power firm Enel, will increase the country's physical generation by 2.8 percent and installed capacity by 3.4 percent, officials said.

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