CAF, ICE Sign us$100
Million Loan Agreement
Published: Thursday,
AprilThe Andean
Development Corporation
(CAF) and Costa Rica's
state power company ICE
have signed a contract
whereby the former will
provide ICE with
us$100million.
The financing, which CAF
approved last July, will
support ICE's investment
plans, the regional
lender said in a
statement.
"The demand for power
services in this Central
American country
continues growing
rapidly, surpassing
expectations and
currently reaching 5% a
year," CAF president
Enrique García said.
Fellow lender IDB
already has approved a
us$381million
non-sovereign guaranteed
loan to refinance part
of ICE's debt and a
us$500 million
conditional credit line
to help the state
institution carry out
its 2008-14 investment
program.
Costa Rica's installed
capacity could reach
4.39GW in 2021 from
1.99GW in 2006,
according to ICE's
131-page 2008-21 power
generation expansion
plan document.
The bulk of new capacity
would come from hydro
(1.79GW), followed by
thermo (604MW), wind
(200MW), geothermal
(105MW) and biomass
(38MW).
Meanwhile, 334MW of
thermo capacity will be
retired in the period.
Of the 1.79GW, 71% comes
from hydro, 17% from
thermo, 8% from
geothermal, 3% from wind
and 0.4% from biomass,
the document said.
In 2006, the country's
power system generated
8.64TWh, up 5.2% from
the previous year. ICE
contributed 93% of the
power, of which 75% was
from its own plants and
18% from private
generators. Distributors
generated the remaining
7%.
Another 89GWh were
imported, with total
consumption that year up
6.2% to 8.73TWh from
2005.
Costa Rica's
transmission system
totals 1,007km and
boasts 41 substations. |
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