Nicaragua stands out in global energy report

MANAGUA, Nicaragua - June 11, 2014 - PRLog -- Nicaragua was featured as the fifth country in the world with the highest share of GDP invested in renewable energy generation in the recently launched Renewables 2014 Global Status Report (GSR), published by the Renewable Energy Policy Network for the 21st Century (REN21).

According to this report, which seeks to provide a comprehensive and timely overview of the renewable energy market, industry, investment and policy developments worldwide, Nicaragua stood out due to its existing share of electricity generated from renewables of 43 percent in 2012, with targets of 74 percent by 2018 and 90 percent by 2020. Also, according to the report the population with access to electricity in 2011 was 78 percent.

Additionally, the report determined that the global situation for renewable energy has jumped to a record level. “Now 95 emerging economies nurture renewable energy growth through supportive policies, up six-fold from just 15 countries in 2005”, reads the official press release. Likewise, renewable electricity capacity has achieved a new record level, increasing more than 8 percent in 2013 to account for more than 56 percent of net additions to global power capacity; renewables meet almost one-fifth of world final energy consumption.

REN21’s Renewables 2014 Global Status Report is the world’s most frequently-referenced report on the renewable energy market, industry and policy developments. It relies on up-to-date renewable energy data, provided by an international network of more than 500 contributors, researchers and authors.

Nicaragua was also ranked third highest in Latin America (behind Brazil and Chile) for investments in renewables in Climatescope 2013, a report published by Bloomberg New Energy Finance and the Inter-American Development Bank, due 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.