Costa Rica: $235 Million to Finance Garabito Plant

The KFW IPEX Bank of Germany granted the credit to the PT Garabito securitization trust for the construction of the plant.

Thursday, June 11, 2009

The loan, which covers 85% of the construction work, has a 13-year term and a fixed annual interest rate of 5.06%.

Mercedes Agüero writes in the Nación web portal: "The project is contracted by the Costa Rican Institute of Electricity (ICE) and has a total project cost of $285 million. The remaining $50 million will be covered by bonds that have already been authorized by the General Superintendent of Securities."

More on this topic

Two Offers for Panamanian Power Plant

January 2011

Hyundai Heavy Industries and Doosan Acciona submitted their bids for building a thermal power plant for the Panama Canal Authority.

Hyundai Heavy Industries bid $ 110 million, while Acciona Doosan proposed $ 121.1 million. The baseline of the bid was $ 110 million.

"With this power plant, the ACP aims to improve the reliability of electric services in the waterway and help reduce fuel consumption and emissions", reported Prensa.com.

Costa Rica: Garabito Power Plant Begins Operations in September

April 2010

The first three engines, out of a total eleven, will start outputting power on September.

The announcement was made by Pedro Pablo Quirós, head of the Costa Rican Electricity Institute (ICE), while visiting the project, which is 55% ready.

Three other generators will start operating on October and the remaining five in December. Each one of the 11 generators is capable of 18.3 MW.

Guatemala Begins Construction of Electric Power Plant

February 2010

The Energy Minister informed that the construction of Jaguar Energy power plant will begin in the next months.

It will take 40 months and $700 million to build, and will generate 300 MW when ready. It will be developed by AEI, an international corporation focused on energy projects.

200 MW thermoelectric plant for Costa Rica.

November 2008

The Garabito project, scheduled for start up in 2011, was granted late last month to MAN, a German company.

The plant will use bunker to produce electricity and will be located along the Inter-American Highway - North, in Montes de Oro, Puntarenas.

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