Nicaragua will get support from the Inter-American Development Bank (IDB) for geothermal projects in the Cosigüina field. Located in the northwestern part of the country, the site will facilitate studies to ascertain the technical feasibility of a commercial-width well. It will also be the location for product development of mechanisms used to attract private investment. The IDB is loaning $51.4 million to finance renewable energy generation capacity and improve the power transmission system. It is expected that construction of transmission infrastructure and electrical substations will help to meet future demand. The demand for power in Nicaragua increased by 2%, year-on-year, between 2014 and 2015. Of 1,500 MW of geothermal potential, only 10% of generation capacity has been leveraged. The remaining monies for financing will be supported by the Korean infrastructure development co-financing facility in Latin America and the Caribbean ($25m), the Clean Technology Fund (CTF) and the Scaling Up Renewable Energy in Low Income Countries Program (SREP) ($17m) and $10m through local counterpart funds.
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