Costa Rica to Get $500 Million From IDB for Renewables

The Inter-American Development Bank approved $500 million in financing for renewable energy in Costa Rica.

The funding will focus on the construction of geothermal generation plants and other renewable energy projects and infrastructure, the Washington-based multilateral lender said in a statement on its website.

Costa Rica’s economic growth will lead energy demand to more than double by 2035, requiring generation capacity to reach 2,648 megawatts, the IDB said.

The IDB said it’s supporting the country to ensure that 95 percent of the capacity added to meet that demand is from renewable sources.

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