Nicaragua lawmakers advance Chinese-backed solar project

Plans for a Chinese-financed solar park in Nicaragua’s Matagalpa department received a boost from legislators.

The national assembly reported that the production, economy, and budget committee approved a legislative decree for a 66mn-euro (US$72mn) credit facility signed by the government and China Communications Construction in October.

Read Chinese to help Nicaragua develop 500MW in projects

The 82.5mn-euro plant with storage would be built in the municipality of San Isidro and support operations of state water utility Enacal. Additional details such as capacity have not been disclosed.

Enacal CEO Ervin Barreda told the lawmakers that the project would reduce the utility’s electricity bill by 40%.

The full assembly is scheduled to review the financing in the coming days, which will be paid back over eight years starting two years from the beginning of the contract.

The water utility also has bidding underway for a 15MW solar project at its Malpaisillo plant in Larreynaga municipality, León department.