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  • Nicaragua set to break ground on 253-MW Tumarin hydroelectric project

    Tumarin Hydropower Plant

    Construction of Nicaragua's 253-MW Tumarin hydropower project is expected to begin this year, developer Centrales Hidroelectricas de Nicaragua (CHN) announced this week.

    HRW-Hydro Review Worldwide magazine reported in September 2011 that initial works on the plant had begun, at which time CHN said Tumarin might be in operation by 2015.

    However, unspecified delays have postponed the official breaking of ground until later this year.

    "We are ready and we will fulfill the dream of all Nicaraguans to have a hydroelectric plant that is capable of delivering clean, renewable energy to each home," the company said in a release. "CHN is committed to the future of the country, and therefore has all combined all efforts to make 2014 the year that marks the beginning of this iconic work."

    The project will be located on the Rio Grande de Matagalpa and will cost more than US$1 billion. Financing will come from Brazil's Eletrobras under a build-operate-transfer contract that is expected to last between 20 and 30 years, after which Tumarin will be turned over to the Nicaraguan government.

    For more news from Latin America, visit here.

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