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19. nóv..2014

Iceland and Nicaragua working together on geothermal energy usage



Memorandum of Understanding between Iceland and Nicaragua on geothermal energy usage.

The minister Ms. Ragnheidur Elin Arnadottir signing the MoU

On November 18, Ms Ragnheiður Elín Árnadóttir, Minister of Industry and Commerce signed a Memorandum of Understanding on Iceland´s behalf in relation to cooperation with Nicaragua in the field of renewable energy – especially geothermal power.  

The agreement – which is between the Icelandic Ministry of Industry and commerce (ANR) of Iceland and the Ministry of Energy and Mines (MEM) of Nicaragua.   President Daniel Ortega of Nicaragua was present and acknowledged the agreement in a speech.  


In the same meeting ENEL (National Power Company of Nicaragua) and the Icelandic Geothermal Power S.E.  signed an agreement on developing a geothermal resource park in the geothermal districts of Masaya, Apoyo and Mombacho. Usable geothermal energy for electricity generation in these areas  has been estimated to be around 363.5 MW.    In the MoU there is a potential for IGP S.A. to be involved in 2 hydro concessions in Nicaragua as well.  This visit came from the initiative of the  Iceland Geothermal Cluster Initiative (IG), an organisation establised 2 years ago.  The delegation trip was organised in cooperation with Promote Iceland.

In the Icelandic delegation were 10 Icelandic companies and organisations.  Iceland Geosurvey ISOR, Efla Consulting Engineers, Iceland Geothermal, Iceland Drilling, Green Energy Group. Landsvirkjun/Landsvirkjun , the national Power company of Iceland, Mannvit, Icelandic Geothermal Power, Reykjavik Geothermal and HS Orka.

On Monday, 17th of Nov., Mr Albert Albertsson, chairman of IG and deputy CEO of HS Orka presented the ideology behind the Geothermal Resource Park in Reykjanes area and the direct usage of the geothermal resource Iceland has harnessed more than most countries in the world. 

President Ortega mentioned in his discussions with minister Árnadóttir and chairman Albertsson his willingness to cooperate with Iceland in this field in the future.  He especially sent his greetings to the President of Iceland and the Prime minister.

This official visit will end on November 20th 2014.