Energy hydroelectric dams hydroelectric projects hydroelectricity hydroelectric Infrastructure and Construction hydroelectric construction Costarican Institute of Electricity construction Sinohydro Corporation Hydroelectric Revantazón financing project finance renewable energy Banking

Credit Condition for Reventazón Hydroelectric

The $300 million loan from a bank in China contains the condition that the company Sinohydro be allowed to participate in the project in Costa Rica.

Thursday, September 1, 2011

The funding of $300 million accounts for 25% of the total cost of the works, said Teofilo de la Torre, chief executive of the Instituto Costarricense de Electricidad (ICE).

The executive from the ICE, said the institution is analyzing the request and that the decision will be taken before the end of this year.

The Sinohydro company is the market leader in developing power generation projects and "... is strengthening its presence in Latin America. In Honduras it is developing the Patuca III 150MW station. Of the $350 million that the plant costs, Eximbank will fund $300 million. It is also building a 1,500 MW dam in Ecuador, where the same Asian bank granted a loan of $1,700 million", reported Nacion.com

Source: Nacion.com

Key entities

Electrobras Sinohydro Corporation Costarican Institute of Electricity Teófilo de la Torre

Countries

China Costa Rica

Insight

project finance financing Hydroelectric Revantazón construction hydroelectric dams hydroelectric projects hydroelectricity hydroelectric hydroelectric construction Banking Energy

Opposition to Chinese Hydroelectric Plant Builders

September 2011

Costa Rican builders are objecting to the award to a Chinese company of a concession for building the hydroelectric station Reventazón, which came as a condition for funding from the Asian country.

A statement from the Costa Rican Chamber of Construction reads:

CCC Proposes to Fund 25% of Reventazon Works with Local Resources

ICE in Costa Rica after Partner for Hydro Power Plant

March 2011

ICE analyzes proposals from Electrobrás and Sinohydro for the Reventazón project.

Gravin Mayorga, manager of the Instituto Costarricense de Electricidad (ICE), said that participation of one or the other at the proposed $ 1.200 billion power plant will depend on the financial proposals offered.

Hydroelectric Projects Promoted in Costa Rica

August 2011

The ICE has presented to Panamanian investors plans to build a dam on the river Reventazón and on the Diquis .

The two hydro projects, which together make an investment total of $3000 million were promoted by the Instituto Costarricense de Electricidad (ICE) at the IX Investor Forum in Panama.

Costa Rica: $15.6 Million in Infrastructure

September 2009

ICE assured investing in the influence area of hydro power project 'Reventazón'.

The Costa Rican Institute of Electricity (ICE) will spend in building roads, centers for medical attention and educational programs.

"'Reventazón' power plant, which will use energy of the water from the river of the same name, will be located close to Turrialba", reports Nacion.com. "It will have capacity for 118.5 million cubic meters".

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