After reviewing the financial report of the Instituto Costarricense de Electricidad (ICE), which reveals very high debt levels, the government of Costa Rica has recommended that the authorities of the energy body look for allies, partners or other investors, for financing their projects, among which is the high volume, large hydroelectric construction project El Diquís in the southern region.

An article in Nacion.com, reports that “With this provision [the government] is aiming to curb ICE’s debts, which amounted to ¢1.8 billion in 2011. This category grew by 184% between 2007 and last year, whereas its equity rose by only 26% in that period. ”

The planned investment for the hydroelectric mega-power plant El Diquís is $2.1 billion.

With the $1.2 billion, 350 MW hydroelectric station Reventazón, ICE searched for potential partners between public enterprises in China and Brazil to participate in the project, without reaching any agreements. Due to the urgency of Reventazón coming into operation in 2016, the ICE is going ahead with construction using its own equity and debt.

Source: Nacion.com