As a result of an international public tender the Government of Nicaragua awarded the concession of geothermal area Hoyo Monte Galan to Geotérmica Nicaragüense, S.A. (GEONICA). This company is a joint investment of Enel Green Power Latin America and LaGeo from El Salvador. The superficial investigation in this concession started in March 2007 and was completed in 2008.
The deep well exploration in the concession of Hoyo Monte Galán started in 2009 and it continues on schedule and per the investment plan approved by the Ministry of Energy and Mines. The data obtained to date, reveals that there is a very interesting geothermal resource and GEONICA’s efforts are focused on locating and quantifying this resource.