Partners for Large Hydroelectricity Project
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.
Friday, June 29, 2012
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.
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 ICE has presented to Panamanian investors plans to build a dam on the river Reventazón and on the Diquis .
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.
The Costa Rican Institute of Electricity is inviting water and wind energy generating companies to participate in a tender, although it is not yet clear how it will be priced.
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