|
|||||||||
|
|
|
|
|
|
Food |
|
Costa Rica gets a $500 million loan to develop clean energy projects |
|
 By A.M. Costa Rica staff
President Carlos
Alvarado and the minister of Finance, Rocío
Aguilar, announced a law that will allow Costa
Rica to receive $500 million from the
Inter-American Development Bank for projects aimed
at developing clean energy.
The contract, known as the Conditional Credit Line for Investment Projects, is one of the different lines of credit of the bank and aims to promote financial aid for Costa Rica to invest in the generation, transmission and distribution of clean energy. The agreement will include individual loan contracts, which will be signed in the eight years following the publication of the law and with terms of execution of up to 25 years. The loans will be divided into two amounts, $ 200 million and $ 300 million. The first amount will help finance the Pailas II and Borinquen I geothermal projects located in Liberia which have a capacity of 55 megawatts each. It will also address an optimization system in Miravalles III, update of the national hydro-meteorological network, the reinforcement of transmission lines in the province of Guanacaste and the renewal of the distribution network in Costa Rica. The second amount, $300 million, will be invested in the geothermal Borinquen III, the modernization of the Arenal hydroelectric plant and transmission and distribution works to strengthen the national electricity system. |
 A.M. Costa Rica
wire services
photo
The geothermal plant Pailas II
will benefit from the loan.
During a
speech, Alvarado emphasized the commitment
that his administration has made to move
forward with actions to achieve the
de-carbonization of the economy and promote
the use of alternative energy sources.
|
         |
|
...... Continue reading news page #4 Click Here |
 |
