Polaris Energy Nicaragua
Polaris Energy Nicaragua is a Geothermal Energy plant in Nicaragua.
Amount
€ 8,091,000.00
Type of investment
Debt
Development impacts
- Private sector consolidation/innovation
- Access to basic services & goods
- Fight against climate change and preservation of natural resources
Beneficiary locations
Investment field
Infrastructure
Activity
Energy - Geothermal
Organisation
Polaris Energy Nicaragua
Domicile
The POLARIS Project involves the development, construction, ownership and operation of the expansion of an existing geothermal power plant in San Jacinto (province of Leon).
As is typical for geothermal project development, the total Project has been developed in phases, whereby a 10MW back-pressure unit has been operational since 2005 as a pilot project. The first phase of the expansion (“Phase I”, 36 MW) is currently under construction. Phase II is basically a “replay” and doubling of Phase I, including a second identical turbine to be located in the same building. Phase I completion is expected in April 2011, while Phase 2 completion is expected in December 2011.
Upon completion, both Phases will be operated as a single integrated facility and will share a common geothermal resource, Power Purchase Agreement, transmission line, generating license, concession and environmental permit.
Phase II will require drilling of additional production and injection wells, but will utilize the identical power plant design and equipment as Phase I.
Development impacts
-
Private sector consolidation/innovation
Geothermal energy is 50% cheaper than thermal energy
Due to the high stability of the energy source, Polaris contributes to base load; leading to less blackouts
-
Access to basic services & goods
Provision of electricity through a geothermal power plant
-
Fight against climate change and preservation of natural resources
Implementation of the Project will result in offsetting around 362,000 Tons of CO2 per year
The project provides for a sustainable base load and low cost energy solution alleviating national budget for importing oil and at the same time securing availability and reliability of energy for the long term
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
