The Inter-American Development Bank (IADB) presented the proposal of carrying out a project of exploration and certification of geothermal energy reserves in the country.

Mr. Carlos Melo, IADBs representative in Nicaragua, has presented to the local media the proposal which aims to carry out a project of exploration and certification of geothermal reserves in the country. The purpose of the project is the promotion of the alternatives for the generation of renewable energy, as well as the consolidation of the sector and the promotion of foreign investment in the country.

Likewise, Mr. Melo has exposed that the project will have an approximate cost of up to USD $ 60 million dollars and that public and private partnerships are expected for its execution.

The execution of this Project will allow Nicaragua to present a more attractive and reliable offer for potential investors, national or foreigners, since they will have access to a specialized study of the available reservoirs, potential capacity and other specific conditions of the reservoirs, which consequently, should expedite the obtainment of financing for the geothermal exploration and exploitation, as well as required permits and authorizations, among other resulting benefits.