More details on Guanacaste Costa Rica Project

More details on Guanacaste Costa Rica Project Playa Potrero Guanacaste, Costa Rica (source: flickr/ mdverde, creative commons)
Francisco Rojas 14 Jul 2014

Details on how will the expected geothermal project valued in Costa Rica at $958 million US are detailed. JICA, will take the lion's share alongside with the European Investment Bank. Both entities will cover nearly two thirds of the funds needed.

More details keep surfacing regarding the ambitious Guanacaste geothermal project in Costa Rica. ThinkGeoEnergy informed about developments on this particular project las month and now, a news piece from RenewEconomy details that the “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.”

This project would allow to generate clean and renewable electricity in the country apart from being also price competitive due to the abundant resources available.

For the full report, please follow the link:

Source: RenewEconomy Website