The country ranked second in the region after Brazil due to its clean energy policies, the structure of the energy sector, low-carbon businesses and clean-energy value chains, as well as the availability of green credits. The nation also has the region’s most developed green microfinance sector, with a total of ten microfinance institutions focusing on climate and clean energy finance.
In 2011, approximately US$117 million went into financing new geothermal projects, while US$95 million went into wind projects in Nicaragua. Moreover, in terms of clean energy investments made in relation to the country’s gross domestic product (GDP), Nicaragua came in first out of the 26 countries.
Michael Liebreich, Chief Executive of BNEF, highlighted that due to the favorable global market conditions for clean energy equipment and the uncertainty in some traditional markets, investors are looking to new economies. “Thanks to today’s low clean energy equipment prices, new capacity can be installed in some nations entirely economically – without the benefit of subsidies,” he mentioned.
The official launch of Climatescope will take place on June 19th during the Rio+20 UN Conference on Sustainable Development in Brazil, at which point the entire ranking will be published.
# # #
PRONicaragua is the Nicaraguan Investment Promotion Agency, established in 2002. It is a non-profit, public-private institution whose mission is to generate economic growth and job creation in Nicaragua by attracting high-quality foreign direct investment. The agency provides complimentary support services to qualified investors seeking investment opportunities in our country.