The Instituto Costarricense de Electricidad’s high levels of debt has forced it to look for a partner in order to finance its large hydroelectric project of 650MW, El Diquís.
After reviewing the financial report of the Instituto Costarricense de Electricidad (ICE), which reveals very high debt levels, the government of Costa Rica has recommended that the authorities of the energy body look for allies, partners or other investors, for financing their projects, among which is the high volume, large hydroelectric construction project El Diquís in the southern region.
The agreement will facilitate the provision of consulting services to regional governments to develop infrastructure projects with private participation.
This agreement seeks initiatives in renewable energy and other projects related to climate change, water treatment and solid waste management, health, education and transport.
The Instituto Costarricense de Electricidad (ICE) has since late 2010 a set of rules which allow partnerships with private entities outside the general rules of government contracting.
Characterized by the vertical structure of its activities in the electricity market the Costa Rican Electricity Institute now has the flexibility to partner with private companies, allowing it to have a competitive advantages that could not be achieved individually in the short term."
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