Spain

Spain

Nicaragua power market privatisation delays wind plant

The privatisation of Nicaragua's state-owned power company Enel is delaying a 22 MW wind project at Rivas by Spanish power company Iberdrola. Iberdrola already drew up a power purchase agreement (PPA) with Enel, but Enel executive president Mario Montenegro says the Iberdrola-controlled Enisa consortium will have to draw up a new contract with the eventual owner of the distributor once the privatisation process is complete. Under the terms of the initial PPA, Iberdrola would have sold power to Enel at US$0.061/kWh, but it will now have to wait for the new market conditions to confirm this figure. Spain's Union Fenosa was the only company to present pre-qualification documents for the September 12 sale, and although original plans were that a single company could not control the Dissur and Disnorte distributor spin-offs, the privatisation committee and regulator INE has allowed Union Fenosa to buy both companies. The Spanish utility's accepted bid was $115 million, $13.5 million above the minimum price set by the regulator of $101.5 million, though this figure was not released until after the close of bidding.

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