China and Nicaragua sign loan to build a third photovoltaic plant

China and Nicaragua signed important credit facility agreements for an amount of 70.5 million dollars, to execute the photovoltaic solar project in the Masaya department, called ENESOLAR 3; which will strengthen ENACAL’s pumping systems.

Minister Ervin Barreda, executive president of ENACAL, representing the government of the Republic of Nicaragua, signed the contract for the project “Construction of a photovoltaic plant” for the operation of ENACAL’s ENESOLAR 3 systems in the municipality of Masaya, Masaya department.
Bruno Gallardo, Minister of Finance and Public Credit, representing the government of the Republic of Nicaragua; signed the credit facility agreement for an amount of 502 million 316 thousand yuan. This is equivalent to 70 million 550 thousand dollars, which will be used to finance the project.

«With this important project, we now have three solar energy projects with the Chinese company CCCC, with a total generation capacity of 200 MW»; said Laureano Ortega, presidential advisor for investments, trade and cooperation. The project will have a total capacity of 200 megawatts and will have the most advanced technology in the solar sector in China; in addition to generating a significant number of jobs.

«This is setting a pattern of transformation in the country, because ENACAL, one of the largest energy consumers in the country, faces high operating costs. Now, these operating costs will be converted (as part of the strategy) into low operating costs, within a scheme of self-sustainability, performance and profitability; key elements that are being made effective in this project», explained Bruno Gallardo, Minister of Finance and Public Credit.
The project will have a total capacity of 200 megawatts and will have the most advanced technology in the solar sector in China; in addition to generating a significant number of jobs.

«This is setting a pattern for transformation in the country, because ENACAL, one of the largest energy consumers in the country, faces high operating costs. Now, these operating costs will be converted (as part of the strategy) into low operating costs, within a scheme of self-sustainability, performance and profitability; key elements that are being made effective in this project», explained Bruno Gallardo, Minister of Finance and Public Credit.
«With the contribution of this third photovoltaic plant, and with the second plant that we will begin to build together with the company China Communications Construction, once in operation, ENACAL will guarantee up to 98% of the energy it currently consumes»; he explained.

Salvador Mansell explained that with this project two fundamental objectives will be met: the first, to contribute to the supply of drinking water through clean and cheaper energy; and the second, to contribute to the change of the country’s energy matrix.