Nicaragua with South Korea promotes investment in renewable energy

The Nicaraguan government is currently promoting investment projects in renewable energy with businessmen from South Korea visiting the capital.

The delegation has the objective of carrying out feasibility studies for large hydroelectric projects and financing the construction and operation thereof, with Korean funds and multilateral financing. 

Chaired by the deputy director of the Ministry of Land, Infrastructure, and Transport, Ji Woo Kim, the Korean commission thanked the Nicaraguan government for the policies of openness to investment and the successful results of its implementation in previous joint experiences.

In addition to Ki Myung Kim, of the Global SAE-A company, with important investments in the free trade zones in Nicaragua, the delegation consists of 15 other businessmen from STX Heavy Industry, Hyundai Engineering & KHNP, KHNP (Korea Hydro Nuclear Power), Samjung KPMG and Yooshin, as per Prensa Latina.

Nicaraguan officials ratified the importance of technology transfer of large companies with experience like these, which can contribute to the growth of the country with the generation of jobs and training of professional skills. 

The meeting was attended by Minister of Energy, Salvador Mansell, Executive President of the Nicaraguan Electricity Company, Ernesto Martinez, Presidential Delegate for Investments, Alvaro Baltodano, as well as the Executive Director and Advisor of ProNicaragua, Carlos Zarruk and Laureano Ortega, respectively. The meetings will continue for the rest of the week, as announced by the parties.

Nicaragua advances in the use of energy from renewable sources and in the coming years will be able to reduce 11 million tons of carbon dioxide, while by 2020 it expects to reach a renewable generation close to 90 percent of its energy matrix, according to specialized sources. 

The Central American nation invests more than one percent of its Gross Domestic Product in the promotion of clean energies and the reduction of pollution.