Feasibility studies for geothermal projects Pailas II and Borinquen will be financed by the Japanese government, under an agreement of understanding between the Costa Rican Electricity Institute (ICE) and the International Cooperation Agency of Japan (JICA), as a result of an official visit by president Laura Chinchilla to the Asian country.

An article in Elfinancierocr.com reported that "When the feasibility documentation is ready both entities will discuss the possibility of a state-backed loan from the Japanese JICA directly to ICE."

The Pailas Geothermal Project is located on the slopes of Rincon de la Vieja Volcano in Guanacaste province. Its planned capacity is 35MW, providing electricity to 95,000 homes.

Source: elfinancierocr.com