Costa Rica’s ICE to build two new hydroelectric plants

Costa Rica’s state-owned electric utility Instituto Costarricense de Electricidad (ICE) has announced a plan to add a pair of new hydropower plants near San Carlos.

The projects — called the Balsa Lower and Toro 3 — will both have an installed capacity of about 40 MW.

ICE said each project will cost around US$100 million, with both coming online by the end of 2014.

The utility announced in October 2012 that the Inter-American Development Bank (IDB) had approved $200 million in non-sovereign guaranteed financing for its 305.5-MW Reventazon hydroelectric project.

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