Costa Rica receives $250 million loan for improving electricity supply
The Inter-American Development Bank (IDB) approved a $250 million loan to help Costa Rica meet its growing electricity demand.
Costa Rica’s electricity capacity in 2011 was 2,650 MW, 77 percent of which was from renewable sources. Although the present installed capacity meets current demands, the country’s electric energy expansion plan foresees 5.1 percent average annual increases in demand.
The plan proposes to meet these increases between 2012 and 2024 by adding 1,714 MW of installed capacity, 98 percent of which will be from renewable sources.
Nearly $98 million of the bank’s loan will co-finance the Reventazón Hydroelectric Project (PHR), expected to go online in 2016. The PHR will have an installed capacity of 305 MW, including a 13.5 MW mini-generating plant at the base of the dam, and an annual production of 1,407 GWh.
The program will help to improve the quality of energy supplied throughout the country’s distribution system, electricity coverage in rural areas and efficiency in consumption.
You may be interested
Costa Rica coronavirus updates for Monday, August 10Alejandro Zúñiga - August 10, 2020
Costa Rica announced nine new coronavirus-related deaths over the past day for a total of 244, according to official data…
Costa Rica has entered its Closed Phase. Here’s what’s openAlejandro Zúñiga - August 10, 2020
Costa Rica continues changing coronavirus restrictions. In order to better identify and control coronavirus outbreaks, Costa Rica has entered a…
Costa Rica inaugurates new facilities at Chirripó National ParkAlejandro Zúñiga - August 10, 2020
The Costa Rican Presidency last week inaugurated new facilities at Chirripó National Park. The improvements to base camp at Costa…