Nordic Solar
BIO has granted USD 100 K of technical assistance to Nordic Solar, to finalise the transaction for the financing of a solar power plant in Nicaragua.
Amount
$ 100,000.00
Type of investment
Subsidy
Beneficiary locations
Investment field
Infrastructure
Activity
Organisation
Nordic Solar
Domicile
Nordic Solar is a new 14MWac (or 16MWdc) solar project to be constructed in Malpaisillo (department Leon) around 100 km north of the capital Managua, Nicaragua. The project has been under development since early 2020. BIO has been involved in the project from the outset and mobilized ElectriFI as co-investor.
With the Covid crisis disturbing pricing of hardware and transport costs, the procurement process of the project slowed down, but the start of construction is now scheduled for mid-2023.
The plant will be connected to an existing substation of the national grid and is scheduled to produce 33.2 GWh in year 1, all production being sold to the national transmission company (Enatrel).
Technical assistance
The technical assistance will contribute to the legal due diligence costs and the establishment of the legal documentation.
Expected impact
Finalising the transaction will enable the project to:
- Generate 33.2 GWh/year of clean, affordable, sustainable, and reliable energy to the benefit of local households (equivalent to an estimated 58,450 households) and manufacturing SMEs in the area.
- Save 20,120 tons of CO2 emissions/year.
- Increase the supply of energy in the least served region of Nicaragua (Atlantic coast).
View more of our investments in this region
Investment Companies & Funds
Darby International Capital Latin American Fund IV
10,000,000.00
Brazil, Colombia, Peru
01/12/2023
Equity
