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.

Ormat built another geothermal energy plant in Costa Rica in 2004 and has four other projects in Central America. It is expected that all the projects will generate 150 MW once the Las Pailas plant is in operation.

More on this topic

Costa Rica: $70 million for Las Pailas Geothermal Plant

November 2013

A loan granted by the European Investment Bank is equivalent to 21% of the total investment required to develop the work.

Funding will be ready for disbursement in the second half of 2014 and will be the second loan received by the ICE for the development of this project.

Costa Rica: Push for Geothermal Energy Projects

May 2011

The increasing energy demand and the slow progress of Electricity Act are driving the Government to promote the use of geothermal energy.

The projects promoted by the government would allow geothermal exploitation in the protected areas of Rincón de la Vieja and Tenorio. Studies conducted by the Instituto Costarricense de Electricidad (ICE) estimated generation of up to 137MW in Rincon de la Vieja and about 100MW in Tenorio.

“Dry” Geothermal Energy Exploitation

January 2011

GTherm, the owner of the patent, is negotiating with Instituto Costarricense de Electricidad (ICE) to develop a 12 MW pilot project.

Within ICE's strategy to develop clean electricity sources, since October 2010 it is negotiating a pilot project to generate electricity by harnessing geothermal energy in the subsoil, a rich resource in Costa Rica.

Geothermal Energy in Central America

September 2010

While costly to build, Geothermal Energy plants could represent a reliable source of clean energy in the long term.

With its many active volcanoes, the region has a unique opportunity to exploit the heat accumulated under the earth in order to generate energy.

For example, Guatemala is aiming to source 60% of its energy needs through geothermal plants by 2022.

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