Initial works of the 220-MW Tumarin hydropower project in Nicaragua could begin in the next couple of months, according to officials from developer Centrales Hidroelectricas de Centroamerica.
The start of construction was delayed due to negotiations with property owners over indemnity payments, newspaper La Prensa quoted officials as saying.
The close of financing is proceeding with the Central American Bank for Economic Integration, Brazil's national development bank BNDES and partners Queiroz Galvao and Eletrobras, Business News Americas reported.
PPA talks are under way with distributors, reports indicate.
The national assembly and south Atlantic autonomous region RAAS council have already approved the project, which will use water from the Grande River in Maagalpa department. The project could begin operations by early 2015.
In other news, the government of Nicaragua has said it will take four years for the construction of the 250-MW Brito hydroelectric plant to be completed, representing an investment of $600 million.
The hydroelectric power project on the Rio San Juan will be the single-largest electricity generation source of in the country, according to a news report in La Nación newspaper.
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