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Nicaragua seeking $15m for geothermal development plan from Climate Investment Fund

Masaya Volcano, Nicaragua (source: flickr/ lil'latvian, creative commons)
Alexander Richter 3 Aug 2017

The Government of Nicaragua together with the World Bank has sought $15 million in funding (grant and loan) for the development of the Casita-San Cristobal geothermal power project.

Reported this week from Nicaragua this week, the Government of the country together with the World Bank have sought the approval of $15 million from the Climate Investment Fund for Nicaragua’s Geothermal Development Plan.

As reported by Energia Limpia XXI the Climate Investment Fund is now studying the approval of the bid for $15 million allocation in funds ($7.7 million in grant and $7.3 million in loan).

The objective of the project is to evaluate the feasibility of resources for the generation of energy in the Casita-San Cristobal project and to accelerate the geothermal development by mitigating the risk and using the funds for drilling and exploration in the area.

Nicaragua they have been located in 12 zones with high potential for the energies generated with the heat of the volcanoes. Recently a mission of Ormat visited Nicaragua and expressed its interest in expanding its investments in the country and in Latin America.

Source: Energia Limpia XXI