News Column

Geothermal Project

July 18, 2014

Status : Active Phase : Approved Sector : Energy Location : Costa Rica Value : $958 Million Facility type : Geothermal Power Plant Capacity : 155 MW Scope : The expected location is Guanacaste near RincÓn de la Vieja. The first plants are expected to generate about 55 MW and cost approximately $333 million to build. Two other 50 MW plants will be built as well, about 40 kilometers from the Pailas II plants. New geothermal plants could generate electricity at about five cents per kilowatt-hour. It has been reported that Costa Rica wants to be carbon neutral by 2021, so developing geothermal would help them achieve that goal. A geothermal project valued at $958 million US dollars was approved by members of the Costa Rican Legislative Assembly within the last week. Over $600 million of the total will potentially be funded by two sources: the Japanese International Cooperation Agency and European Investment Bank. The Japanese agency will provide $540-560 million, and the European bank $70 million. The remainder will come from the Costa Rican Electricity Institute. Only a 0.6 percent interest rate will be charged by Japan, and Costa Rica will have forty years to pay back the loan.

Project completion date : 2015-12-31 12:00:00


Address : North Sabana, San JosÉ, Costa Rica

Country :Costa Rica

Financier : European Investment Bank (EIB), Japan International Cooperation Agency (JICA) ,

Financier address : Financier : Japan International Cooperation Agency (JICA) Nibancho Center Building 5-25, Niban-cho, Chiyoda-ku, Tokyo 102-8012 Tel: +81-3-5226-6660/6661/6662/6663

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Source: TendersInfo (India)

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