Costa Rica Coffee Guide

Financing Set for New Hydroelectric Plant

November 2, 2010

Costa Rica’s Central Bank and the Costa Rican Electricity Institute (ICE) signed a contract on Tuesday to establish a $160 million trust fund for the construction of a 46,000 kilowatt hydroelectric plant on the Rio Toro in the canton of San Carlos, in north-central Costa Rica.

Under the agreement, the Central Bank, as the trustee, will assure 100 percent of the funds for the project, and the Costa Rican electricity Institute (ICE) and the Cartago Municipal Electric Service (JASEC) will pay the bank a monthly rent for the plant.

At the end of 12 years, the plant will become the property of ICE and JASEC.

Construction of the plant has not begin, but ICE foresees that the project will be complete and in operation by the first quarter of 2013. The plant is expected to supply approximately 65,000 homes with electricity.

You may be interested

Costa Rica coronavirus updates for Tuesday, September 29
Costa Rica
5576 views
Costa Rica
5576 views

Costa Rica coronavirus updates for Tuesday, September 29

Alejandro Zúñiga - September 29, 2020

Costa Rica announced 19 new coronavirus-related deaths over the last day for a total of 880, according to official data…

Costa Rica says coronavirus measures continue in October
Costa Rica
21085 views
Costa Rica
21085 views

Costa Rica says coronavirus measures continue in October

Alejandro Zúñiga - September 29, 2020

President Carlos Alvarado and the National Emergency Commission (CNE) on Tuesday  announced Costa Rica's coronavirus measures will continue in October. The…

These are the requirements to enter Costa Rica as a tourist
Costa Rica
2338 views
Costa Rica
2338 views

These are the requirements to enter Costa Rica as a tourist

Alejandro Zúñiga - September 29, 2020

Costa Rica is currently welcoming tourists from select countries and U.S. states. Due to the coronavirus pandemic, Costa Rica has…