Nicaragua and Iceland sign energy cooperation agreements

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President Daniel Ortega received a delegation of government officials and businessmen from Iceland that are exploring new investments in the energy sector. The Minister of Industry and Innovation of Iceland, Elin Ragnheidur Arnadottir, who leads the delegation, signed an agreement on scientific and technical cooperation and one on geothermal and hydroelectric project development. President Ortega said that Iceland is interested in exploring opportunities to develop geothermal projects in the Santiago and Mombacho Volcano. Nicaragua has a 2000 megawatts geothermal energy potential and 10 sites for the development of new projects have been identified.

In 2007, Iceland was the seventh most productive country in the world per capita (US$54,858), and the fifth most productive by GDP at purchasing power parity ($40,112). About 85 percent of total primary energy supply in Iceland is derived from domestically produced renewable energy sources. Utilization of abundant hydroelectric and geothermal power has made Iceland the world’s largest electricity…

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