CABEI-supported renewable energy projects in Costa Rica account for more than 20% of the country's total electricity generation
With financial and technical support from the multilateral, hydroelectric, geothermal and wind projects have been developed to cover the consumption of more than half a million Costa Rican homes.
San José, February 21st, 2023.- The Central American Bank for Economic Integration (CABEI) reiterates its consistent support to Costa Rica to achieve the goal of making its energy matrix 100% renewable, and is therefore pleased to have made important contributions throughout history for the development of iconic projects that today cover the electricity consumption of 682,000 Costa Rican households.
These include the country's largest hydroelectric plant, Reventazón, the largest power plant in Central America, and the second largest civil works project after the Panama Canal, as well as the Las Pailas I Geothermal Plant, which contributes to Costa Rica's position as the third largest geothermal producer in the Americas, achieved through the capture of steam reserves that accumulate at the base of the Rincón de la Vieja volcano.
CABEI's Executive President, Dr. Dante Mossi stated, "our founding partner, the Republic of Costa Rica, has shown itself to be at the forefront with high-level works that allow it not only to generate electricity from clean sources that help preserve nature and ensure this basic service to practically all Costa Ricans, but also to actively participate since 2013, through the Costa Rican Electricity Institute (ICE), in the export of energy through the Regional Electricity Market (MER), thus promoting Central American integration."
Some CABEI-financed projects and their contribution to the national energy matrix
Reventazón Hydroelectric Project:
CABEI financing: US$225 million
Annual generation of megawatts per hour: 1,086.397
Contribution to national demand: 9.15%.
Households benefited: 362,132
Cachí Hydroelectric Plant
CABEI financing: US$225 million
Annual generation of megawatts per hour: 639,061
Contribution to national demand: 5.38%
Households benefited: 213,021
Pirrís Hydroelectric Plant
CABEI Financing: US$172 million
Annual generation of megawatts per hour: 636,902
Contribution to national demand: 5.37%
Households benefited: 212,301
Las Pailas I Geothermal Project:
CABEI financing: US$225 million
Annual generation of megawatts per hour: 226,580
Contribution to national demand: 1.91%
Households benefited: 75,527
Central Valley Wind Farm
CABEI financing: US$25.7 million
Annual kilowatt generation: 900
Households benefited: 10,000
The backing of these initiatives, among others such as cooperations like the studies currently evaluating the environmental conditions for generating offshore wind energy in the North Pacific region of the country, are in line with CABEI's 2020-2024 Institutional Strategy, specifically in the Human Development Axis, which seeks to generate effective social capacities for real social inclusion that translates into improved well-being and quality of life for the region's inhabitants.
