ICE obtains $ 1,400 million for Hydroelectric Project 'Reventazón'

Funding will conclude hydro in late 2016

Project will have a capacity of 305.5 megawatts and will be located in Limón

December 21st,2013.

ICE signed Thursday in Washington two loan agreements for $ 1,400 million, which will serve to conclude in late 2016 Reventazón Hydroelectric Project in the bed of the river Reventazón in Limón, Limón.

The Instituto Costarricense de Electricidad of the funding managed by a multilateral agreement with the Inter-American Development Bank (IDB) and the International Finance Corporation of the World Bank.

The Institute agreed to place bonds between international investors and banks, Nacional, Costa Rica, People and Farm Credit of Carthage.

The project is located in the middle reaches of the river Reventazón, 8 km southwest of Limón.

Will be launched at the end of its construction, the largest hydroelectric plant installed capacity in the country, with 305.5 megawatts, which will supply to 525,000 households.

Made at ICE. "We have shown we can do extraordinary tasks. Our teams were able to create a very complex financial structure and an unprecedented amount: $ 1,400 million, "said Martin Vindas, CEO of ICE.

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