Construction on a 250-MW hydroelectric powerplant in Nicaragua is slated to begin in November after financing for the $700-million project was lined up through a slate of Brazilian firms and regional organizations.
Earlier this year, a consortium led by Brazil’s state utility Centrais Eletricas Brasileiras (Eletrobras) and Centrales Hidroelectricas de Centroamerica (CHC)—a subsidiary of the Brazilian construction firm Queiroz Galvao—was awarded a 30-year, build-operate-transfer concession for the Tumarin hydroelectric facility on the Rio Grande de Matagalpa River, located northeast of the capital Managua.