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Nicaragua hydropower project gets funding from Brazil

A bank and companies from Brazil will assist Nicaragua in financing an $800 million hydropower plant, wire services reported.

Nicaraguan government leaders said Brazil's Banco de Fomento will provide $342 million in financing for the hydro project, which would have a total installed capacity of 250 megawatts, according to reports.

Two Brazilian companies will provide another $206 million in credits, and the Central American Bank for Economic Integration will put up another $252 million, wire services reported.

The hydro project is planned for construction on the Rio Grande de Matagalpa northeast of Managua.

In other news, Santo Antonio Energia aims to launch commercial operations at the 3,150-MW Santo Antonio hydropower project in Brazil by December 2011, a spokesperson for the firm told wire services.

The hydro plant is being built on the Madeira River in the Amazon region. Construction is now 29 percent complete, according to reports.

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