News

Future investment depending on renewal of renewable energy incentives in Nicaragua

Future investment depending on renewal of renewable energy incentives in Nicaragua San Cristobal volcano, Nicaragua (source: flickr/ hhbcphotos, creative commons)
Alexander Richter 19 May 2015

The current success of Nicaragua is due to tax incentives that have been in place since 2005 bolstering investment.

Following earlier news regarding the renewal of tax incentives for renewables in Nicaragua, a local newspaper has detailed the impact that they might have for the geothermal industry in particular.

Nicaragua has positioned itself as a champion for renewable energy in Central America, but without an extension of the tax incentives, future projects might halt, due to a sudden stop in foreign investment.

In the local newspaper, Antonio Duarte, manager of Polaris Energy is interview and states that Nicaragua’s success in the green energy field is partly due to the incentive system. The current law has been in place since 2005., and between 2006 and 2014, 1600 million dollars have been invested in renewable energy in Nicaragua.

Source: La Prensa