Major photovoltaic projects in Costa Rica inaugurated with financial support from CABEI
The Na Lakalú photovoltaic project is located in Palmares de Alajuela and will have an installed capacity of 186.7 KWP to supply the energy requirements of a furniture company.
San José, Costa Rica, May 21, 2015. -: With the implementation of a Partial Credit Guarantee, as a new financial instrument, the Central American Bank for Economic Integration (CABEI) through its Project “Accelerating Renewable Energy Investment in Central America and Panama (ARECA)" and Banco Promérica, the Company Na Lakalú Solutions S.A. recently inaugurated its solar power plant, which will have an installed capacity 186,7KWP to supply the electricity needs of a furniture factory.
This project is now a reality with financial support from CABEI through its Project ARECA, using a Partial Credit Guarantee amounting to US$307,500.00 in favor of Banco Promérica as part of coverage to the financing of US$410,000.00 for the construction of a photovoltaic solar energy plant.
Continuing with the implementation of this financial instrument, the Central American Bank for Economic Integration (CABEI), through its Project "Accelerating Renewable Energy Investments in Central America and Panama (ARECA)", granted a partial credit guarantee amounting to US$56,250.00 in favor of Banco BAC San Jose, S.A., as partial financing for the 31.62 KW FLOREX Photovoltaic Project, located in San Ramon, Costa Rica.
The expected benefits of these solar plants include savings in the factories’ electricity bill, as well as taking advantage of solar energy through the installation of photovoltaic panels on the factory roofs to replace fossil fuels used in power generation, thereby preventing the emission of approximately 85.8 tons of carbon dioxide (CO2) per year.
It is noteworthy that ARECA and CABEI have promoted the economic and social development of the Central American Isthmus by providing partial credit guarantees and non-reimbursable technical assistance for water, biomass and solar projects, contributing to the channeling of new renewable energy investments to the region amounting to approximately US$113,190,957, which represents 41,071 MW of energy generation and a reduction of 131,234 annual tons of CO2 into the atmosphere.
