Nicaragua solar investment expands renewable energy portfolio with new project
Nicaragua is making significant strides in renewable energy with the upcoming construction of the 78 MW Enesolar-3 solar power plant. This ambitious project, spearheaded by MPC Energy Solutions and Grupo Gildan, involves an investment exceeding $83 million. Situated in the picturesque Chinandega region on the Pacific coast, the Enesolar-3 plant will connect to the National Interconnected System (SIN). This development underscores Nicaragua’s unwavering commitment to expanding its renewable energy infrastructure.
MPC and Grupo Gildan fast-track Nicaragua solar investment in Chinandega
The construction of the Enesolar-3 solar plant is set to commence in early 2024, with an anticipated completion timeline of 18 months. MPC Energy Solutions, renowned for its specialization in solar and wind projects across Latin America and the Caribbean, will lead the construction, in partnership with Nicaraguan company Grupo Gildan. The Enesolar-3 plant will boast a substantial 78 MW of installed capacity, expected to generate 180 GWh of energy annually — enough to power over 50,000 homes. This project is poised to significantly reduce carbon emissions by approximately 80,000 tons per year, marking a substantial positive impact on the environment.
Nicaragua solar investment drives expanding solar capacity
The Enesolar-3 is among several solar projects recently announced in Nicaragua. In July, the Nicaraguan Institute of Energy (INE) revealed the construction of a 50 MW solar farm in the department of León. Furthermore, in August, the German company Juwi AG inked an agreement with the Nicaraguan government to develop a 100 MW solar project in Chinandega. As of 2022, Nicaragua had an installed solar capacity of 212 MW. With the addition of Enesolar-3 and other planned projects, this capacity is poised to increase significantly, propelling the country closer to its renewable energy objectives.
Nicaragua solar investment supports renewable energy goals
Nicaragua ambitiously aims to generate 90% of its electricity from renewable sources by 2027. The country boasts a diverse mix of renewable energy resources, including hydroelectric, geothermal, wind, and solar energy. Hydroelectric power accounts for 40% of the country’s electricity, while geothermal and wind contribute 20% and 15% respectively. Solar power, while currently a smaller portion of Nicaragua’s energy mix, is rapidly expanding due to its cost-effectiveness and abundant sunshine. Projects like Enesolar-3 play a pivotal role in helping Nicaragua achieve its renewable energy targets.
Benefits of Enesolar-3 solar plant for Nicaragua solar investment
The Enesolar-3 solar plant promises numerous benefits for Nicaragua. It will enhance the country’s energy security by reducing reliance on imported fossil fuels. Additionally, the plant is expected to lower electricity costs for consumers by providing a stable and affordable source of energy. Beyond economic advantages, the Enesolar-3 project will have significant environmental impacts. By reducing greenhouse gas emissions, the plant will contribute to climate change mitigation and promote sustainable development in Nicaragua.
The Enesolar-3 solar plant represents a major leap forward in Nicaragua’s renewable energy journey. With its substantial capacity and environmental benefits, the project will play a crucial role in helping the country achieve its ambitious renewable energy goals. As Nicaragua continues to expand its renewable energy infrastructure, it sets a powerful example for other nations in the region.
