The Nicaraguan Minister of Energy and Mines, Emilio Rappaccioli, revealed these ambitious targets during the 41st Meeting of Ministers of the Latin American Energy Organisation (OLADE), held in Nicaragua’s capital city, Managua, on 29 October.
Rappaccioli said that 66% of Nicaragua‘s thermal energy is produced using petroleum derivatives, while the remaining 34% is generated using renewable resources. "In other words," he warned, "we have a strong dependence on petroleum-based power generation".
Nevertheless, Nicaragua is committed to weaning itself of fossil fuels, and the Minister explained that its national energy plan establishes that "by 2017 renewable energy resources will have a 94% stake" in its electricity generation mix. He went on to say that "during the period 2017-2025, this percentage will increase to almost 100 percent".
Rappaccioli added that the country has managed to expand electricity provision to cover 66% of the country, up from 54% in 2007, and that "the goal is to raise national electricity coverage to 85% in 2014". The expansion in renewable energy capacity in forthcoming years will help to achieve this goal.
The official explained that to achieve both objectives Nicaragua will procure financing from international financial organisations and institutions, including the Inter-American Development Bank (IDB) and the World Bank (WB), and will obtain up to $400 million (€281.5 million) through foreign cooperation agreements.
For additional information:
EarthTrends - Nicaragua energy profile
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