“In 2013 we achieved a renewable energy generation of 50.8 percent (…) almost 10 points above the 41 percent of 2012”, stated Emilio Rappaccioli, Minister of Energy and Mines of Nicaragua (MEM, for its acronym in Spanish).
As part of the government’s strategy to change Nicaragua’s energy matrix between 2007 and 2013, more than US$1,182 million have been invested in the sector, US$919 million specifically in renewable resources. Foreign investment in the country’s renewable energy sector comes mainly from Canada, the United States and Brazil. The Government of Nicaragua has the goal of generating 74 percent of its electricity from renewable resources by 2018.
In Climatescope 2013, a report published by Bloomberg New Energy Finance and the Inter-American Development Bank, Nicaragua ranks third highest in Latin America (behind Brazil and Chile) for investments in renewables, first as a supporter of green microfinancing in Central America, and first in enabling the necessary framework for green energy projects. According to the report, this was thanks to the high penetration of renewables in the country’s power matrix and the significant flow of investment relative to the size of its economy.