ICE to invest $9bn by 2024

Costa Rica’s state power company ICE plans to invest $9 billion in the nation’s power sector over the next 12 years, according to BNamericas. The majority of the investment will go into generation, with hydro, thermo and geothermal projects included in the investment portfolio.

Around 378 MW in hydro capacity will be added over the next three years, through the inclusion of the 306 MW Reventazón, the 46 MW Toro III, the 20 MW Macho, and the 60 MW upgrade of the Cachi facility. Two other projects, the 650 MW El Diquís and 160 MW Sevegre, are in the prefeasibility stage, ICE’s electricity director Gravin Mayorga told BNamericas.

ICE is currently involved in negotiations with indigenous communities who will be affected by the projects, according to BNamericas. Startup dates of 2019 and 2020 were given by the executive for each project.

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