Today’s La Prensa reports $80.2 million to be allocated for renewable energy projects. The article reads in English:

Nicaragua obtained $80.2 million to finance state and private projects of renewable energy, part of the Nicaraguan Institute of Energy (INE) and the Ministry of Energy and Mines’ (Minae) plan to have 60% of the electricity generation matrix operating without hydrocarbons by the year 2012.

Currently, hydrocarbon fuels provide 80% of Nicaragua’s energy needs, which makes the Nicaraguan system the most costly in the Central American region owing to constant increases in international oil prices.

The $80.2 million will be distributed in two payments, of $40.2 million and $40 million contributions by the Inter-American Development Bank (BID) and the Central American Bank of Central American Integration (BCIE), respectively.

Executive Director of the INE David Castillo said he didn’t know which projects would be financed with these funds, but praised the steps that led to their acquirement.

“All financing obtained for the transformation of the energy matrix by way of state and private projects are welcome,” Castillo said. “Especially, if they’re geothermic or hydroelectric.”

Mirna Lievano, BID representative for Nicaragua, revealed that among other projects to be funded by these loans are improvements in state hydroelectric plants and wind-power projects.