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Nicaragua: Russia financing and building geothermal plants

Alexander Richter Alexander Richter 29 Dec 2008

Russia will finance and build two geothermal plants in Nicaragua with the capacity to produce 250 megawatts.

In a drive to decrease its oil-dependence for its energy needs, the country turns to wind energy. At the same time the country has geothermal resources that haven’t been tapped in yet.

Ernesto Martinez, executive president of the Nicaraguan Energy Company, said recently that Russia will finance and build two geothermal plants in Nicaragua with the capacity to produce 250 megawatts. And on Tuesday, Rappaccioli said Iran, Brazil and Mexican billionaire Carlos Slim have also expressed interest in investing in the country’s renewable energy efforts.

Source: Kansascity.com (Filadelfo Aleman – AP)

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