Costa Rica: Trust for Hydroelectric Project

The BCR, ICE and Electrical Service Administrative Board of Cartago (JASEC) signed a trust agreement to build hydroelectric project Toro 3.

Monday, November 1, 2010

With capacity of 46 thousand kilowatts, the project involves a $ 160 million investment. It is expected to be operational in 2013.

La Prensa Libre reports, "The Bank of Costa Rica (BCR) as trustee in coordination with the Instituto Costarricense de Electricidad (ICE) and JASEC must provide 100% of the resources of project cost, through financial structuring, which seeks an appropriate balance between placement of securities or loans with national or international financial institutions.

More on this topic

Costa Rica: $19 million for Hydroelectric Station

August 2015

After renting it for 12 years, the Costa Rican state power company, ICE, has paid $19 million to acquire the Peñas Blancas hydroelectric plant, 36 MW.

The Costa Rican Electricity Institute (ICE) exercised the purchase option which was its right from the start beginning, through the figure of trust, for the construction and operation of the Penas Blancas plant, in 2000.

Costa Rica: Hydroelectric Station Exceeds Initial Test

January 2013

After 11 years of construction, a first generator of 67 MW at the hydroelectric plant Pirrís successfully completed a month of operation under test conditions.

An article in reports that the start of commercial operations with its two generaters producing up to 134 MW, is scheduled for August, 11 years after the start of construction and after a rise in costs from the $300 million originally budgeted to the $600 million that is currently recorded.

Hydroelectric Megaplant at Risk in Costa Rica

April 2011

Complaints by indigenous natives from the El Diquís area are jeopardizing the project.

The native peoples in the area where the Instituto Costarricense de Electricidad (ICE) intends to develop a mega hydroelectric power generation say their land has been usurped without right.

$64 Million For Nicaraguan Hydro Power Station

September 2009

'Larreynaga', a 17-MW hydroelectric power plant will be built with financing from Spain.

Funds for the project will be channeled through the Central American Bank for Economic Integration (CABEI).

"The project for the construction of 'Larreynaga' hidroelectric power station, ..., will be repaid in 25 years by the Government of Nicaragua, and will be developed by ENEL, the Nicaraguan Electricity Company", reported Google News.

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