Colombia firm invest in biomass energy and sugarcane in Nicaragua

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The Colombian firm Mayaguez announced the purchase of 60% share of Nicaragua Casur Sugar Holdings. Mayaguez decided to invest in Nicaragua because of its excellent prospect for development of the sugar industry and biomass power generation. “This is part of a strategic, sustainable and long-term business vision”.

Casur is one of the leaders in sugar production and biomass energy generation in Nicaragua, with 645,000 tons of sugar cane grinding capacity and $ 38.3 million dollars in sales per year. Nicaragua is the second largest exporter of sugar in Central America and one of the countries that takes the most advantage of bagasse to generate electricity. During the first 3 months of this year biomass power generation contributed 10% to the national energy grid.

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