Nicaragua’s energy authorities recently announced the approval by the Iranian government of a 150 million euro loan to build a dam on the Tuma River in the Department of Jinotega to produce 70 megawatts of hydroelectricity. Construction of the hydro project is slated to begin late this year, the work being done under an Iranian firm over an estimated three years. Approval by the Nicaraguan National Assembly, however, is still pending. Expect delays and much politicking, especially around the loan terms that were initially reported as a payback period of 10 years with 5% annual interest. Nicaragua has grown used to receiving much more favorable conditions, if not out-and-out donations.
Iran where a river runs
Explore Waves magazine:
NewsBytz, Previous Issues, Issue 23: June - August 2008
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