In 2011, as discussions regarding the new cooperation agreement were underway, then-Japanese Prime Minister Yoshihiko Noda met with Costa Rican President Laura Chinchilla Miranda in Tokyo and underscored the priority that Japan places on supporting projects that protect the environment.ĭuring the signing ceremony to ratify the new agreement, Mr. In keeping with that pledge, it recently set a goal of obtaining 95 percent of its electricity from renewable energy sources by 2014. Four years ago, it vowed to become the world's first carbon-neutral country by 2021. Once they are constructed, the plants are expected to produce electricity at five cents per kilowatt-hour, which would be the lowest cost of electricity generation in the country.Ĭosta Rica is well known for its advanced environmental conservation efforts. According to the ICE, the forthcoming loan from JICA will cover nearly 60 percent of the total investment required to build the plants, which is estimated at $950 million. Pailas II, the first of the three geothermal plants to be completed with JICA's financial assistance, will have a generation capacity of 55 megawatts, and the others, Borinquen I and II, will each generate 50 megawatts of electricity. The agreement paves the way for a new concessional loan of up to 56,086 million yen (approximately $560 million) for the construction of three geothermal power plants near the Rincón de la Vieja Volcano in Guanacaste Province. On November 19, JICA signed a cooperation agreement with the Government of the Republic of Costa Rica and the Costa Rican Electricity Institute (Instituto Costarricense de Electricidad, ICE), the national electricity and telecommunications services provider, in the capital of San José.
JICA is partnering with the Costa Rican government to help the country satisfy a rising demand for energy by increasing the amount of electricity it derives from renewable sources. From the right to the left: Edgar Ayales Esna, Minister of Finance Laura Chinchilla, President of Costa Rica Yoshikazu Tachihara, Chief Representative of JICA El Salvador Office and Teofilo de la Torre Arguello, President of ICE.