Nicaragua’s Minister of Energy Emilio Rappaccioli signed an agreement with the Icelandic International Development Agency (ICEIDA) in Iceland yesterday about a five-year development project involving geothermal energy.
Icelandic scientists will provide Nicaraguan authorities with specialized knowledge and training on how to harness geothermal energy, mbl.is reports.
This is the largest project ever undertaken by ICEIDA and is estimated to cost USD 4 billion (EUR 3 billion).
While in Iceland, Rappaccioli will study the situation of geothermal energy in Iceland and visit institutions and companies working in that field. The minister will meet with representatives of Icelandic energy companies which are expanding into foreign markets, like ENEX, Reykjavík Energy Invest (REI) and Geysir Green Energy (GGE).
