Nicaragua seeking $15m for geothermal development plan from Climate Investment Fund
Nicaragua continues to look for ways to develop geothermal and other climate friendly power sources like solar. Our power rates here are very expensinve because much of the electricity generation relies on foreign oil.
Reported this week from Nicaragua this week, the Government of the country together with the World Bank have sought the approval of $15 million from the Climate Investment Fund for Nicaragua’s Geothermal Development Plan.
As reported by Energia Limpia XXI the Climate Investment Fund is now studying the approval of the bid for $15 million allocation in funds ($7.7 million in grant and $7.3 million in loan).
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