Approval for Sectoral Loan for the Development of Geothermal Energy in Guanacaste (Convenio de Cooperación para un préstamo sectorial para el desarrollo de la geotermia en Guanacaste)

The law 9254 approves bilateral loans with the Japanese Government and the European Investment Bank for the ficing of geothermal projects larger than 50 MW to be developed by the national utility Instituto Costarricense de Electricidad (ICE).

The projects – Pailas II and Borinquen I and II – are expected to generate 55 megawatts each and will be developed by ICE in an area near the Rincón de la Vieja Volcano National Park. ICE expects all three projects to be fully operational by 2020.

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