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Latin America Investment News on Viva Tropical

Costa Rica: $140 Million for Hydroelectric Expansion

Article Summary:

The Central American Bank for Economic Integration (CABEI) will loan to Costa Rica U.S. $ 140 million for the expansion of the Cachi hydroelectric plant, which will increase from 100 to 160 megawatts of generation.

Original Article Text From Prensa Libre via Google Translate :

CABEI Provided to Costa Rica U.S. $ 140 Million for Hydroelectric

The loan was signed at the headquarters of BCIE in Costa Rica by the state president of Instituto Costarricense de Electricidad (ICE), Teofilo de la Torre, and the bank’s vice president, Alejandro Rodriguez and other officials of both entities. With the credit to 16 years with four grace, ICE will build a new tunnel parallel to the existing one, will expand the power house and placed a new electric generator, said at a press conference the manager of Electricity ICE Gravyn Mayorga .

At present the Cachi hydroelectric plant, which came into operation in 1962 and located in the province of Cartago (east), has a capacity to generate 100 MW, which will rise to 160 MW with new works. Mayorga said the design and technical studies are completed and the recruitment of most of the machinery to dig the tunnel, so the works are expected to begin shortly and that the extension is in operation in early 2015.

Vice President CABEI, Alejandro Rodriguez, said that with this loan the bank “recognizes the broad background and experience in electrical projects ICE” and stressed the commitment of the institution to bet on clean energy. For his part, de la Torre said that the plant expansion is part of Cachí a portfolio of energy projects that the institution intends to perform in the coming years to “ensure the coverage of demand” electric.

He said that last year began operating a hydroelectric plant, another geothermal and other fuel-based, and are developing two hydropower and wind, the latter private. hydroelectric plant on “The Diquís” which plans to build on indigenous territories and will be the largest in Central America with an output of 630 megawatts, de la Torre explained that it is exploring ways to make an inquiry to the people.

“The issue is being addressed with the care they deserve. We are looking at ways to make the consultation of indigenous peoples and we expect that in the coming months to carry out successfully, “he said. Today Costa Rica is electrified by 99% and is self sufficient in energy electricity generated in about 90% from clean sources.

Link to Original Article:

From Prensa Libre

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