The Japan International Cooperation Agency will lend $549 million for the construction of geothermic electrical generators on the skirts of the Rincón de la Vieja volcano.
The generators are being built by the Instituto Costarricense de Electricidad. They include Las Pailas II, Borinquen I and Borinquen II projects.
The loan requires legislative approval, and the bill authorizing the loan has been sent to the Comisión de Asuntos Hacendarios.
Officials from the power generator said that the new plants would reduce the cost of electricity.