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Article Excerpt
As the price of oil bulged beyond the US$50 per barrel mark for the first time in 2005, Nicaragua again found itself lost in a conundrum. With its geothermal, hydroelectric, and wind resources, the country is a potential generator of renewable, nonpolluting energy economically within reach of every citizen. But Nicaragua also lacks the means to motivate that kind of development and, as a result, spends so much of its meager treasure on imported oil that it plunges ever more deeply into crippling debt.
Early in 2005, the Comision Nacional de Energia (CNE) warned that the situation could only worsen unless a turn is taken toward alternative, renewable sources of energy. The CNE has been lobbying the private sector to invest in several different kinds of renewable energy projects. But, said CNE president Raul Solorzano, the electricity market is demand driven, and, if there are no buyers for electricity produced in sustainable ways, there will be no sellers interested in investing in its production.
Little interest, no obligation
At present in Nicaragua, there is one buyer. The Spanish multinational FENOSA, which controls about 80% of the electricity...
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