The European Investment Bank (EIB) is currently studying financing a hydropower development and transmission project in Nicaragua.
The sponsor of the project is state-owned Empresa Nacional de Transmissión Eléctrica.The project consists of two main components:The project consists of transmission investments that are necessary to allow access of renewable electricity projects to the main consumption centres of the country, to replace present and future fossil-based generation, and to connect isolated smaller energy grids to the transmission grid of the country. The project therefore contributes to the mandate objectives of climate change mitigation and economic infrastructure development.
The European Investment Bank is analyzing financing €130 million and the total project cost is €1,000 million.
The bank disclosed the transaction on February 23rd, 2015.