Forum for Science, Industry and Business

Sponsored by:     3M 
Search our Site:

 

KfW IPEX-Bank provides financing for 200 MW power project in Garabito /Costa Rica

09.06.2009
KfW IPEX-Bank together with HSBC Bank plc has successfully arranged and signed an Euler-Hermes covered export credit financing of USD 235 million on 8 June 2009 with Fideicomiso Planta Termica Garabito (FPTG) in Costa Rica as borrower.

The signing took place in Frankfurt, Germany. FPTG will use the loan to finance a 200 MW diesel-engine peak-load electricity generation plant delivered by MAN Diesel SE, Augsburg, Germany.

The power plant is located in Garabito on the Pacific coast of Costa Rica and will consist of 11 medium speed diesel engines with an installed capacity of 16-20 MW each. Construction has started and commercial operation is expected for January 2011. FPTG is a special purpose company established by the national state-owned energy and telecommunication service provider ICE (Instituto Costaricense de Electricidad) to raise the financing for the Garabito project.

The financing builds on an operating lease structure with ICE making the lease payments to FTPG. Combining structured long-term export credit financing with a leasing structure, the financing structure provides an innovative and unique solution in the energy sector. KfW IPEX-Bank provides the funding through a 13 year fixed interest rate loan on a CIRR basis (Commercial Interest Reference Rate).

The Garabito project is key for ICE's objective to develop new generation capacity in Costa Rica and secure the country's power supply. The demand for electricity in Costa Rica is presently increasing at an annual rate of 6%. The country currently generates approximately 78% of its electric power via hydroelectric power plants. Due to seasonal limitations on the operation of the hydroelectric power plants the diesel-engine backed peak-load electricity generation plant at Garabito is essential to secure and stabilize the power system in Costa Rica.

About KfW IPEX-Bank GmbH

Within KfW Bankengruppe KfW IPEX-Bank GmbH provides project and corporate financing as well as trade and export financing domestically and abroad. Worldwide it conducts all market activities of KfW Bankengruppe that are carried out on commercial terms. KfW IPEX-Bank GmbH has been operating as a legally independent subsidiary since 1 January 2008 and contributes significantly to the promotional mission of KfW Bankengruppe. It has approx. 490 employees (as of June 2009) and is represented in the key economic and financial centres throughout the globe.

Dela Strumpf | presseportal
Further information:
http://www.kfw-ipex-bank.de

More articles from Business and Finance:

nachricht Preferential trade agreements enhance global trade at the expense of its resilience
17.02.2017 | International Institute for Applied Systems Analysis (IIASA)

nachricht How Strong Brands Translate into Money
15.11.2016 | Kühne Logistics University - Wissenschaftliche Hochschule für Logistik und Unternehmensführung

All articles from Business and Finance >>>

The most recent press releases about innovation >>>

Die letzten 5 Focus-News des innovations-reports im Überblick:

Im Focus: Breakthrough with a chain of gold atoms

In the field of nanoscience, an international team of physicists with participants from Konstanz has achieved a breakthrough in understanding heat transport

In the field of nanoscience, an international team of physicists with participants from Konstanz has achieved a breakthrough in understanding heat transport

Im Focus: DNA repair: a new letter in the cell alphabet

Results reveal how discoveries may be hidden in scientific “blind spots”

Cells need to repair damaged DNA in our genes to prevent the development of cancer and other diseases. Our cells therefore activate and send “repair-proteins”...

Im Focus: Dresdner scientists print tomorrow’s world

The Fraunhofer IWS Dresden and Technische Universität Dresden inaugurated their jointly operated Center for Additive Manufacturing Dresden (AMCD) with a festive ceremony on February 7, 2017. Scientists from various disciplines perform research on materials, additive manufacturing processes and innovative technologies, which build up components in a layer by layer process. This technology opens up new horizons for component design and combinations of functions. For example during fabrication, electrical conductors and sensors are already able to be additively manufactured into components. They provide information about stress conditions of a product during operation.

The 3D-printing technology, or additive manufacturing as it is often called, has long made the step out of scientific research laboratories into industrial...

Im Focus: Mimicking nature's cellular architectures via 3-D printing

Research offers new level of control over the structure of 3-D printed materials

Nature does amazing things with limited design materials. Grass, for example, can support its own weight, resist strong wind loads, and recover after being...

Im Focus: Three Magnetic States for Each Hole

Nanometer-scale magnetic perforated grids could create new possibilities for computing. Together with international colleagues, scientists from the Helmholtz Zentrum Dresden-Rossendorf (HZDR) have shown how a cobalt grid can be reliably programmed at room temperature. In addition they discovered that for every hole ("antidot") three magnetic states can be configured. The results have been published in the journal "Scientific Reports".

Physicist Dr. Rantej Bali from the HZDR, together with scientists from Singapore and Australia, designed a special grid structure in a thin layer of cobalt in...

All Focus news of the innovation-report >>>

Anzeige

Anzeige

Event News

Booth and panel discussion – The Lindau Nobel Laureate Meetings at the AAAS 2017 Annual Meeting

13.02.2017 | Event News

Complex Loading versus Hidden Reserves

10.02.2017 | Event News

International Conference on Crystal Growth in Freiburg

09.02.2017 | Event News

 
Latest News

Start codons in DNA may be more numerous than previously thought

21.02.2017 | Life Sciences

An alternative to opioids? Compound from marine snail is potent pain reliever

21.02.2017 | Life Sciences

Warming ponds could accelerate climate change

21.02.2017 | Life Sciences

VideoLinks
B2B-VideoLinks
More VideoLinks >>>