Costa Rica:

Lawmakers Approve $1 Billion Geothermal Project in Guanacaste (Inside Costa Rica)

 Pailas II, Borinquen I, and Borinquen II geothermal power projects have been given the green light

Members of the Costa Rican Legislative Assembly unanimously approved in first debate yesterday a series of loan agreements toward the development of geothermal energy in Guanacaste.

The $958 million USD project will be financed with a loan of $540 million from the Japanese International Cooperation Agency, along with a loan of $70 million from the European Investment Bank, according to reports.  The Costa Rican Electricity Institute (ICE) will fund the remainder of the project, reports indicate.

The project consists of three geothermal generation stations: Pailas II, Borinquen I, and Borinquen II. The installations will be located between Bagaces and Cañas, near the Rincon de la Vieja volcano in Guanacaste.

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