$958 Million Geothermal Project Approved by Costa Rican Legislature

A geothermal project valued at $958 million US dollars was approved by members of the Costa Rican Legislative Assembly last week.  Over $600 million of the total will potentially be funded by two sources:  the Japanese International Cooperation Agency and European Investment Bank.  The Japanese agency will provide $540-560 million, and the European bank $70 million.  The remainder will come from the Costa Rican Electricity Institute.  Only a 0.6 percent interest rate will be charged by Japan, and  Costa Rica will have forty years to pay back the loan.

$958 Million Geothermal Project Approved by Costa Rican Legislature