Energy independent Bolivia may still rely on Russia's help

Bolivia aims to become energy independent and the only way to do this is with a modern nuclear power plant; however, the country does not have the technological capacity to construct their own station. This is where one of the largest energy players in the World comes into play. Rosatom confirmed in the beginning of March 2016 it has signed an agreement with Bolivia to build a US$300m nuclear complex.

The Russian giant will help the Andean nation to engineer a research reactor, a cyclotron and multi-purpose irradiation plant. While fear of environmental issues received some media coverage, the benefits of energy independence is increasingly important in Bolivia.

Evo Morales, the Bolivian President confirmed Russia's interest to share its technological prowess. "Our brother, President Vladimir Putin, has promised me the transfer of Russian know-how and technology," said Mr. Morales in the beginning of March 2016.

If the country manages to successfully implement this energy deal, Healy Consultants believes that business investment in the sector will surely surge in the right direction and introduce new players in the local market.