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Costa Rica to join shared electricity grid scheme

The Costa Rican government has given the green light for the country to join the shared electricity grid known as SIEPAC in the Central American region, Spanish agency EFE reports.

Carlos Benavides, a minister for the presidency, said the move represents “a great step towards the investment in renewable energy” and said joining SIEPAC was key to Costa Rica’s future energy development.

According to experts, the shared grid, which is funded by governments, multi-national lenders and private firms, is expected to reduce the need for expensive oil imports which cost the region around $8.9bn a year, experts have said.

It could also lower generation costs by up to 20 per cent.

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