JICA backs feasibility studies for two geothermal projects in Costa Rica

Rincon de la Vieja, Costa Rica (source: flickr/ Patrick Nouhailler, creative commons)
Alexander Richter 9 Dec 2011

Under a memorandum of understanding, the Japanese International Cooperation Agency (JICA) will finance feasibility studies for two geothermal projects in Costa Rica, Pailas II and Borinquen in Guanacaste province.

Last week the Costa Rican Electricity Institure (ICE) and the International Cooperation Agency of Japan (JICA) signed a MOU with the aim to increase renewable energy generation in Costa Rica. The agreement was signed as part of an official visit by the country’s president Laura Chinchilla to Japan.

To achieve this goal, JICA and ICEA will exchange technical and environmental information on the exploration of geothermal resources.

Feasibility studies for geothermal projects Pailas II and Borinquen are to be started soon. They will be financed by the Japanese government, under under the agreement of ICE and JICA.

“When the feasibility documentation is ready both entities will discuss the possibility of a state-backed loan from the Japanese JICA directly to ICE.”

The Pailas Geothermal Project is located on the slopes of Rincon de la Vieja Volcano in Guanacaste province. Its planned capacity is 35MW, providing electricity to 95,000 homes.

Source: el financiero cr