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Costa Rica to use $500m IDB credit line for renewable energy development

Costa Rica to use $500m IDB credit line for renewable energy development Miravalles geothermal plant and solar plant (source: ciee.org)
Alexander Richter 2 Dec 2015

Costa Rica will use a $500 million credit line from the Inter-American Development Bank (IDB) for the development of renewable energy and related projects, naming particularly geothermal as focus.

Reported last weekend, Costa Rica plans to use a credit line over $500 million from the Inter-American Development Bank (IDB) for development of renewable energy projects and the expansion of transmission and distribution networks.

The credit, so the news, will particularly be used for geothermal power plants and other renewable energy development. In a release, IDB said that these efforts “will stimulate sustainable economic growth and integration into the regional power market.”

In order to meet growing energy demand, the country needs to add around 2,700 MW by 2035. The vast majority of that is expected to come from renewable energy sources.

In November this year, renewable energy power generation contributed around 98.82% of all generation, mostly from hydro, geothermal and wind power plants.

Source: SeeNews