On November 18th 2014, a memorandum of understanding (MoU) was signed between Nicaragua, Iceland Geothermal Power S.A., an Iceland-based geothermal energy consortium, and ENEL for the development of a Geothermal Resource Park in the areas of Masaya, Apoyo and Mombacho, Nicaragua.
The combined electricity generation of these three fields is estimated to be around 360MW.
A MoU for two hydropower concessions is additionally included in the Geothermal Resource Park. The hydropower concessions are not geographically bound to the previously mentioned areas.
Present at the signing ceremony, which took place at the Secretaria de la Presidencia, were Honorable President Daniel Ortega, the President of Nicaragua; Mrs. Ragnheidur Elin Arnadottir, Minister of Industries and Innovation in Iceland; Mr. Emilio Rappaccioli, Minister of Energy and Mines; Dr. Paul Oquist, Minister-Private Secretary for National Policies; Mr. Ernesto Martínez Tiffer, CEO of ENEL; Mr. Albert Albertsson, Chairman of the Board of Iceland Geothermal Cluster, and other representatives from various Icelandic companies.
The signing ceremony was the conclusion of a large Icelandic delegation visit headed by Mrs. Ragnheidur Elin Arnadottir, Minister of Industries and Innovation. The delegation included government and private sector representatives from both the geothermal and hydroelectric sector in Iceland.
Mrs. Ragnheidur Elin Arnadottir, Minister of Industries and Innovation in Iceland, Dr. Paul Oquist, Minister-Private Secretary for National Policies, Mr. Ernesto Martínez Tiffer, CEO of ENEL, Mr. Albert Albertsson, Chairman of the Board of Iceland Geothermal, and the other representatives of the Icelandic companies.
Iceland is a leading country in the utilization and development of geothermal energy. The Icelandic approach of utilization of geothermal resources is unique in the world. Geothermal energy is not only used for electricity generation, but also in various direct applications, leading to secondary businesses like house heating, aquatic farming, methanol production, health clinic and skin care products, to mention only a few.
This unparalleled initiative brings the entire Icelandic geothermal industry to Nicaragua to jointly develop the Geothermal Resource Park. This project transfers Iceland’s unique know-how, technologies, and cluster methodology into Nicaragua and Central America.
The Iceland Geothermal Power S.A. is a consortium of Icelandic companies and other stakeholders in relation to this development. Iceland Geothermal Power S.A. will be the main developer of the concessions.
To find out more about this project, contact Iceland Geothermal Power S.A. representative Mr. Ørn Johannsson via oj@igp.is
Additionally, for more information regarding the Iceland Geothermal Cluster, visit http://www.icelandgeothermal.is/