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Costa Rica's ICE gets loan for geothermal plant

Tuesday, January 14, 2014

Costa Rica's state-run utility, Instituto Costarricense de Electricidad, received a $70 million loan from the European Investment Bank to expand a geothermal power plant.

The Las Pailas project in northwest Costa Rica will be boosted to 97 megawatts from 42 megawatts, Richard Willis, a spokesman for the Luxembourg-based lender said.

“The project will contribute to reaching Costa Rica’s challenging goal to achieving carbon neutrality by 2021, meaning its net contribution to global climate change will fall to zero," he said.

Source: Bloomberg