Iceland and Nicaragua sign MOU on renewable energy cooperation
Albert Albertsson, President Ortega and Minister Raghneidur Elin Arnadóttir in Managua, Nicaragua (source: Ministry for Industry & Innovation)
Alexander Richter
21 Nov 2014
Iceland and Nicaragua sign Memorandum of Understanding on the collaboration for the development of renewable energy projects with a focus on geothermal and hydro power projects in Nicaragua. The delegation included government and company representatives from the Icelandic geothermal sector.
At a recent visit to Nicaragua, Iceland’s Minister for Industry & Commerce signed a Memorandum of Understanding for the cooperation on the development of renewable energy resources.
The agreement was signed between the Department of Energy and Mines in Nicaragua and Iceland’s Ministry for Industry & Innovation in presence of Daniel Ortega, the president of Nicaragua.
At the same meeting, a private agreement with Nicaragua’s power company ENEL was signed on the development of resource park for the geothermal areas of Masaya, Apoyo and Mombacho. The potential of development in the region is estimated at 360 MW.
The Icelandic delegation included representatives from the Ministry of Industry & Innovation, ISOR, the Iceland Geothermal Cluster, Iceland Drilling, Green Energy Group, Landsvirkjun/ Landsvirkjun Power, Mannvit, Verkis, Efla, and Reykjavik Geothermal. The trip was organized by Promote Iceland in cooperation with the Icelandic geothermal sector to examine a possible involvement of Icelandic companies in the development of geothermal and hydro resources in Nicaragua.
Early this week, Iceland’s Minister Ragnheidur Elin Arnadottir and the delegation met with by Paul Oquist, Minister of macroeconomic policies, Emilio Rappacciolli, Minister of Energy and Mines and Ernesto Martínez Tiffen, Director ENEL. At these meetings, the Government of Nicaragua presented its renewable energy utilization plans and possible involvement of Icelandic companies.
Albert Albertsson, chairman of the Icelandic geothermal cluster and deputy CEO of HS Orka presented the idea behind the resource park in Reykjanes and his vision of the utilization of natural resources that sees the “waste” of one industrial activity is a possible important raw material for other industries.
At the government meeting, President Ortega discussed the cooperation of both nations and he expressed his interst to expand geothermal exploration in the country with the help of Iceland.
