Costa Rica receives $250m energy investment

The Inter-American Development Bank (IADB) has given Costa Rica a loan totalling $250m to help strengthen its energy sector, according to Agence France Presse.

The loan, in particular, is aimed at helping this small Central American country develop renewable energy projects.

Around $98m will be used to enable the completion of the Reventazon hydropower plant, which will feature an 8-km long dam.

The rest of the funds will be used to reinforce the Costa Rica’s electricity generation, transmission and distribution infrastructure, the bank said in a statement.

Costa Rica generated 2650 MW of electricity last year, with 77 per cent of that derived from renewable sources and 23 per cent from thermoelectric plants.

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