Successful GEOLAC conference held in Managua, Nicaragua
Successful two days of the Geothermal Energy Congress for Latin America and the Caribbean (GEOLAC) which has been held the last two days in Managua, Nicaragua.
These past two days, government representatives from Latin America and the Caribbean, specialists, investors and executives from multilateral funding agencies discussed development of the geothermal industry at the third Geothermal Congress for Latin America and the Caribbean (GeoLAC). The organizers reported a record number of 133 registrations ahead of the event.
The event is co-sponsored by New Energy Events and the World Bank, to promote the exchange of knowledge and experiences, and facilitating subsequent encounters and relationships.
Tomorrow, attendees will visit the San Jacinto Tizate geothermal field near the city of Leon, 90 km northwest of Managua, operated under concession by the Canadian firm Polaris Energy Nicaragua SA (PENSA), with an installed capacity to generate 77 MW of energy.
At the opening of Congress, Charles Feinstein, Energy Director of the World Bank (WB) talked about the obstacles faced in the development of geothermal projects, among them the availability of resources, the legal frameworks of each country, as well as existing infrastructure.
In this regard the World Bank announced it has $ 150 million available for investment in clean energy in the region.
The hosting country of Nicaragua is rich in geothermal resources and clear plants for renewable energy. The CEO of Enel, Tiffer Ernesto Martinez, said that Nicaragua has 152 MW of installed capacity in two geothermal fields within the national grid.
He explained that currently the country only utilises about 10% of its potential, which is estimated at about 1,500 MW. In the medium term the country has plans to expand its installed capacity to 750 MW.
Just before the event, the organizers reported 133 registered delegates from 30 countries. A record turnout for GEOLAC, this is a clear reflection of strong interest in the regional geothermal market.