Nicaragua announces hydroelectric project

February 27, 2009

MANAGUA – The Nicaraguan government and Brazilian construction company Andrade Gutierrez have signed an agreement for financial and technical studies to be conducted on the Brito hydroelectric project, officials said Friday.

The technical studies will allow the partners to determine investment and financing costs for a project that is expected to generate 250 MW of electricity and in which Andrade Gutierrez is prepared to invest some $600 million.

The project, which is to include the construction of two dams, will be built near the border with Costa Rica and will use the waters of Lake Nicaragua to regulate the reservoirs.

The accord states that to execute this project, scheduled for completion in 2014, an investing company will be formed in which the Nicaraguan government will have a 10 percent stake.

The agreement – signed Thursday by Energy and Mines Minister Emilio Rappaccioli and the Brazilian firm´s vice president, Ronaldo Pereira – also establishes that an updated study be drawn up on the water resources of that region of southern Nicaragua and the project´s environmental impact.

You may be interested

With Keylor Navas battling injuries, Real Madrid eyes January swoop for Bilbao goalie
Keylor Navas
308 views
Keylor Navas
308 views

With Keylor Navas battling injuries, Real Madrid eyes January swoop for Bilbao goalie

AFP - December 11, 2017

Real Madrid's first foray into the January transfer market will be to snap up Athletic Bilbao's promising goalkeeper Kepa Arrizabalaga,…

Our High Season Print Edition is here! Here’s where to find it
The Tico Times
569 views
The Tico Times
569 views

Our High Season Print Edition is here! Here’s where to find it

Katherine Stanley - December 11, 2017

In the weeks since the relaunch of The Tico Times on Sept. 1, we’ve been hard at work to reconnect…

Bright Lights Boat Parade inaugurates holiday season in Quepos
Events
604 views
Events
604 views

Bright Lights Boat Parade inaugurates holiday season in Quepos

Elizabeth Lang - December 11, 2017

The Bright Lights Boat Parade marked the official kickoff of the holiday season in the Central Pacific town of Quepos…