Managua, April 12 (PL-RHC) -- Nicaragua is carrying out five new projects on renewable energy in a bid to increase the national generation of electricity by 40 percent by the end of 2012.

The announcement was made by Energy and Mines Minister Emilio Rapacciolli, who said investments over the last five years allowed the increase of wind, hydropower and geothermal sources of energy in 2011 with foreign and state financing.

The Nicaraguan official added that the goal for 2013 is to produce 50 percent of electricity locally, which will allow reducing fuel oil consumption by 1.7 million barrels per year.

With equipment supplied mainly by Venezuela, in addition to Cuba’s technical support, the country was able to install a total of 290 megawatts (MW) in oil consuming units from 2007, as an alternative to overcome the crisis as soon as possible.

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