Nicaragua to develop new solar plant with Chinese investment

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.

The plant will be developed with a Chinese investment of US $80 million and will be located in the northern department of Matagalpa, it will also have a capacity of 67.3 megawatts of production.

Laureano Ortega Murillo, son of the president and presidential advisor for the Promotion of Investments, Trade and International Cooperation, said that CCCC will also build another solar energy plant in the country, which – combined with the aforementioned new plant – will generate more than 130 megawatts of energy.

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.

The project is one of the first tangible results that has emerged following the establishment of a strategic partnership between China and Nicaragua last December and the subsequent signing of a Free Trade Agreement between both countries in January of this year.

The two governments agreed that, as part of their strategic partnership, they will strengthen “exchanges and cooperation” in security and technology, according to the Evwind.

The president of the CCCC, Wang Tongzhou, indicated that the company will increase its investments in the Central American country in order to “maximize our competitiveness in infrastructure and make more contributions to the friendship between China and Nicaragua.”

Relations between China and Nicaragua are somewhat new, starting in 2021 after the Central American country broke relations with Taiwan.

Prior to this agreement, mining concessions in Nicaragua had also been granted to China, with two projects that total more than 50,000 hectares of land, some with a large indigenous presence.

Main source:

China construirá planta de energía solar fotovoltaica en Nicaragua | Evwind. (April 30, 2024).

Others related source:

China construirá planta de energía solar en Nicaragua | Tvpe Noticias. (April 29, 2024).

Ortega autoriza a firma china construir planta de generación eléctrica solar en Nicaragua | Infobae. (April 23, 2024).

Hoy se firmarán acuerdos entre Nicaragua y China para construcción de planta solar | Vos TV (April 29, 2024).

Nicaragua otorga concesión a empresa china para explotar minerales | Fundación Andrés Bello (April 23, 2024).