Nicaragua Reducing Oil Independance
Jan 27th, 2009 by Kevin
Nicaragua is about to make another great stride to reduce it´s independence on imported oil to supply it´s electrical energy needs. The State-run Brazilian electric company Eletrobras and a private firm from that country will invest $350 million in the construction of a hydroelectric dam in the basin of the Rio Grande de Matagalpa in the South Atlantic Autonomous Region. In exchange for providing the raw material- water- for the project, Nicaragua will have a ten percent share in the enterprise. About 3000 direct and indirect jobs will be created with it´s construction, which is to start early in 2009, aiming at a completion date in 2012.
Source: Current Issue (Dec 08 - Feb 09) of Between the Waves
Intesting note -growing up in Canada, Ontario Hydro was our utility and hydro power was the primary source of electricity - so much that I grew up knowing electricity only as “hydro”. It wasn’t your electricity bill, or power bill, it was you hydro bill.
