Nicaragua:

Nicaragua Approves Law to Acquire up to 10% Stake in Geothermal Projects Through State-run Nicaraguan Elec. Co. (National Assembly of Nicaragua)

(Courtesy CIA.gov)

The State of Nicaragua, through the Nicaraguan Electricity Company (ENEL), will have a 10 percent equity interest in the activities of exploration and exploitation of geothermal resources after approval of the October 15 draft Law Reform N or 443, "Law of Exploration and Exploitation of Geothermal Resources".

Deputy Jenny Martinez, president of the Committee of Infrastructure and Public Utilities, said the amendment to the Law of Exploration and Exploitation of Geothermal Resources will extend from 25 to 30 years, the license generation and concessions maintained by the Ministry of Energy and Mines.

The State as represented by ENEL will not assume any reason, risk, debt, guarantee, or responsibility. They must be assumed by the national or foreign investor, as stated in the amendment to the Law of Exploration and Exploitation of Geothermal Resources.

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