The Costa Rica News (TCRN) – Three geothermal projects to be constructed ​​in Guanacaste as part of a sector loan are being finalized with the government of Japan. The first is the Pailas II project, which is already in progress.

On July 3, the agreement was approved, which will allow ICE to have a loan of $958 million. Of this, $644 million is coming from the International Cooperation Agency (JICA) and $70 million from the European Bank, with the remaining resources provided by the entity.

The other contracts that need to be signed are for Borinquen I and II . At the Pailas II site, drilling is already underway, as well as the specifications of electromechanical equipment, civil designs, purchases and associated project management plan.

“According to the program, Borinquen I will begin in 2018 after Pailas II ends, where we will start a  drilling program in mid-2016 to late 2018 and early 2019 we will start the drilling for Borinquen II,” reported Luis Pacheco Morga, Manager Electrical ICE.

These projects are intended to help reduce pollution and production costs in Costa Rica. Pacheco did not confirm the deadlines for when the plants would be producing power for the benefit of the country.

The Costa Rica News (TCRN)

San Jose, Costa Rica