An Israeli company will now be producing power for Nicaraguan consumers. The company, Ormat, has invested 35 million dollars in the rehabilitation of a Nicaraguan power station, but expects revenues from the station to be 13 million dollars annually. In March 1999 Ormat signed a 15 year Concession and Power Purchase Agreement with ENEL, the Nicaraguan National Power Company, to rehabilitate the Momotombo Geothermal Power Plant. The new Geothermal Binary Power Plant now produces electricity at a strength of 35 megawatts, a vast improvement over its former 8 MW output.
The President of Nicaragua, Enrique Bolanos Geyer, recently attended the festive inauguration ceremony of the new power station, which marked the end of the four-year rehabilitation process, executed by a local Ormat subsidiary. The Nicaraguan president commented at the ceremony, “We are very enthusiastic and optimistic today at the inauguration of the new Ormat Energy Converter Plant, which produces clean energy using the steam arising from the depths of the volcano. This has even a higher value today, as it is accentuated by the impending war and corresponding increase in oil prices, since 70% of Nicaragua's electricity is based on oil. Nicaragua has an impressively large geothermal resource waiting to be tapped. We should use this advantage to diminish our dependency on oil.”
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Spend Passover with Arutz Sheva at a resort in Jerusalem, Tel Aviv or Kfar Pines (near Hadera). Click here for info.
The President of Nicaragua, Enrique Bolanos Geyer, recently attended the festive inauguration ceremony of the new power station, which marked the end of the four-year rehabilitation process, executed by a local Ormat subsidiary. The Nicaraguan president commented at the ceremony, “We are very enthusiastic and optimistic today at the inauguration of the new Ormat Energy Converter Plant, which produces clean energy using the steam arising from the depths of the volcano. This has even a higher value today, as it is accentuated by the impending war and corresponding increase in oil prices, since 70% of Nicaragua's electricity is based on oil. Nicaragua has an impressively large geothermal resource waiting to be tapped. We should use this advantage to diminish our dependency on oil.”
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Spend Passover with Arutz Sheva at a resort in Jerusalem, Tel Aviv or Kfar Pines (near Hadera). Click here for info.