Agreement of banks provides credit of $135,000 for solar energy project

Investment expected to generate 63.37 kilowatts peak (kWp).

July 08th,2014

BAC San José awarded, through a partial credit guarantee BCIE, $ 135,000 to fund a solar energy project in San Antonio de Belén.

The initiative was developed in the facilities of the Club Campestre Spanish and expected to generate 63.37 kilowatts peak (kWp) in duplex mode technology (combining solar thermal and photovoltaic).

According to a press release from the Central American Bank for Economic Integration (BCIE), the National Power and Light Company (CNFL) participated in the initiative as a distributor and developer of interconnection.

The partial credit guarantee means that if the Spanish Club Campestre not disburse the amount due on the loan, CABEI liable for a percentage of the debt, as a backup to BAC San José.

"With the use of this financing facility of partial guarantees, sponsored by the Project on Accelerating Renewable Energy Investments in Central America and Panama (ARECA), a tripartite initiative of the Global Environment Facility (GEF), the United Nations Programme Development Programme (UNDP), CABEI and contributions from the Ministry of Foreign Affairs of Finland, is achieved that financial institutions like the Banco BAC San José SA are consolidated entities as promoters of the Costa Rican energy sector, "the statement CABEI dictates.

We attempted to contact the representative of the Spanish Club Campestre, no one answered calls.

Source:La Nación