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because of the Government of Costa Rica’s (GOCR) fiscal problems. TheGOCRfrozealmosteverylarge infrastructure project in 1996 in order to cut public spending as required by the World Bank, International Monetary Fund (IMF), and IDB. Costa Rica needs at least an additional 4,211 MWe by 2016, excluding current capacity scheduled for retirement. Of this amount, 137.5 MWe will come from geothermal sources, specifically Miravalles II (55 MWe), Miravalles III (27.5 MWe), and Tenorio (55 MWe). Major future projects include the 177 MWe Angostura hydroelectric project expected online in 2000, Piris - 128 MWe - 2003, Los Llanos - 85 MWe - 2007, Pacuare - 156 MWe - 2008, and Boruca - 1500 MWe - 2010. Government / Legislation Instituto Costarricense de Electricidad (ICE) Originally, ICE, the public electric utility which was created in 1949, was responsible for exploring and developing the country’sgeothermalresources. Thischangedin1990with the passage of Law 7200, the Independent Power Generation Act. The investigation and development of geothermal fields fallsexclusivelytoICE. Theprivatesectorisonlyallowed to generate electricity. Laws 7200 (1990) and 7508 (1995) - Independent Power Generation Act Laws 7200 and 7508 allow private developers to build and operate geothermal power plants within the following parameters: • 35% of the company’s ownership must be Costa Rican; • the procedure is public bidding; • the maximum power installable per concession or public bidding is 50 MWe; • the maximum term is 20 years; • up to 15% of the country’s total installable power can come from private sources; • environmental impact studies are required; and • the rate is competitively set. Geothermal Resources in Latin America & the Caribbean 6PDF Image | Geothermal Resources in the Caribbean and Latin America
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