On June 20, the Japan International Cooperation Agency (JICA) signed a loan agreement with the Instituto Costarricense de Electricidad (ICE) in San José, the capital city of Costa Rica, to provide a Japanese ODA loan of up to 25.991 billion yen for the Borinquen I Geothermal Project (Guanacaste Geothermal Development Sector Loan).
Through the project, ICE will construct a geothermal power plant in the Borinquen district of Guanacaste Province in the northwest part of Costa Rica, strengthening the power supply with renewable energy to mitigate the effects of climate change, with the objective of contributing to sustainable development in Costa Rica. The loan funds will be allocated to public works for steam development and power plant construction, to the procurement of power generation and related equipment, and to consulting services (including preliminary and detailed design reviews, and bidding assistance).
