Geothermal plant tendered for $65 million in Costa Rica
Ormat Technologies signed a contract with the BCIE to provide and operate a geothermal energy plant.
Tuesday, January 27, 2009
The plant will be installed in the Las Pailas area in Costa Rica and will be used by the Costa Rica Institute of Electricity. It should be completed in 18 months from the signing of the contract.
GTherm, the owner of the patent, is negotiating with Instituto Costarricense de Electricidad (ICE) to develop a 12 MW pilot project.
The increasing energy demand and the slow progress of Electricity Act are driving the Government to promote the use of geothermal energy.
While costly to build, Geothermal Energy plants could represent a reliable source of clean energy in the long term.
A loan granted by the European Investment Bank is equivalent to 21% of the total investment required to develop the work.
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