Will China build a solar power plant in Nicaragua?

Photo: Wikipedia. The Chinese state-owned company China Communications Construction Company Limited (CCCC) is set to build a solar power plant in Nicaragua, after reaching an agreement with the Nicaraguan government.

What is Nicaragua's energy supply?

“This gives us a guarantee that the project will be carried out in the best way and will ensure its best performance.” Around 60% of Nicaragua’s total energy supply is drawn from renewable sources, with biomass (41.8%) accounting for the largest share of generation as of 2022. The remaining 40% is supplied by oil imports.

How much energy does Nicaragua use?

According to the International Energy Agency, Nicaragua supplies around 60% of its total energy from renewable sources, including wind, solar and geothermal, with biomass – an often contested renewable – accounting for the largest share, at roughly 40% of total supply.

Who authorized the construction of a new plant in Nicaragua?

These developments were authorized by Nicaraguan president Daniel Ortega to the capital markets advisor of the Ministry of Finance and Public Credit, Carlos José Selva Hernández through a presidential agreement signed approximately 10 days ago, which sought to cover the design, supply and construction of the plants.

Is Nicaragua a bad investment environment for China?

“But Nicaragua has actually been a problematic investment environment for China,” Myers adds. The diplomatic back-and-forth with Taiwan has been an issue, as well as the collapse of the controversy-stricken Grand Interoceanic Canal project, designed to run through Nicaragua and rival the Panama Canal.

Why are energy costs a problem in Nicaragua?

A 2015 stud y by the Economic Commission for Latin America and the Caribbean (ECLAC) said Nicaragua’s energy costs suppress the competitiveness of its industries and the wellbeing of its citizens: higher rates limit access to essential services, increase production costs and hold back economic growth.