Nicaragua’s renewable energy efforts for energy independence
San Jacinto power plant (source: Ram Power)
Alexander Richter
5 May 2015
Throughout the years, Nicaragua has received a lot of subsidised oil from Venezuela but now looks towards renewables energy for further energy independence.
In a recent post in the Brazilian edition of the Wallstreet Journal, Venezuela has given around USD “$70 billion in subsidized oil to Nicaragua and a number of other Caribbean countries” in an effort of making closer ties with neighbouring countries and curtailing US influence.
Nicaragua being one of them, is grateful but is looking at moving away from being dependent from and living of the assistance of others by pushing forward with more renewables energy development, and nowadays produces half of its energy through wind farms, hydroelectric and geothermal plants.
The WSJ quotes Bayardo Arce, chief economic adviser to President Daniel Ortega: “We have always said that we can not depend on just one country’s aid”
The same source states that this is the right time for Nicaragua’s strategy since Venezuela is reducing oil exports amid the economic crisis and the US are encouraging the migration of the region for renewable energy in its policy.
Source: WallStreet Journal Brazil
