State power company facing $209 million in claims from hydro firms

The state power company said Tuesday that is is facing a series of claims amounting to $209 million by four companies that built private hydro projects.

The power company, the Instituto Costarricense de Electricidad, known as ICE, said the claims are without merit. All are still in court.

The financial demands by the private companies are not new, but what is new is the accounting by ICE.

The companies are Hidroenergía del General, Unión Fenosa Generadora La Joya, PH Chucás and Hidrotárcoles.

All had agreements with ICE to build hydro projects and deliver the power generated to the state firm.

In at least one case, a company was slow in delivering electricity, and ICE issued a fine. The projects received varying degrees of protests from neighbors and environmentalists.

One company alone, PH Chucás, wants $182.5 million, ICE said in a press statement.

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