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 Mathematical confirmation: Rewiring financial networks reduces systemic risk
22.06.2017 | International Institute for Applied Systems Analysis (IIASA)

nachricht Frugal Innovations: when less is more
19.04.2017 | Fraunhofer-Institut für Arbeitswirtschaft und Organisation IAO

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: Fizzy soda water could be key to clean manufacture of flat wonder material: Graphene

Whether you call it effervescent, fizzy, or sparkling, carbonated water is making a comeback as a beverage. Aside from quenching thirst, researchers at the University of Illinois at Urbana-Champaign have discovered a new use for these "bubbly" concoctions that will have major impact on the manufacturer of the world's thinnest, flattest, and one most useful materials -- graphene.

As graphene's popularity grows as an advanced "wonder" material, the speed and quality at which it can be manufactured will be paramount. With that in mind,...

Im Focus: Exotic quantum states made from light: Physicists create optical “wells” for a super-photon

Physicists at the University of Bonn have managed to create optical hollows and more complex patterns into which the light of a Bose-Einstein condensate flows. The creation of such highly low-loss structures for light is a prerequisite for complex light circuits, such as for quantum information processing for a new generation of computers. The researchers are now presenting their results in the journal Nature Photonics.

Light particles (photons) occur as tiny, indivisible portions. Many thousands of these light portions can be merged to form a single super-photon if they are...

Im Focus: Circular RNA linked to brain function

For the first time, scientists have shown that circular RNA is linked to brain function. When a RNA molecule called Cdr1as was deleted from the genome of mice, the animals had problems filtering out unnecessary information – like patients suffering from neuropsychiatric disorders.

While hundreds of circular RNAs (circRNAs) are abundant in mammalian brains, one big question has remained unanswered: What are they actually good for? In the...

Im Focus: RAVAN CubeSat measures Earth's outgoing energy

An experimental small satellite has successfully collected and delivered data on a key measurement for predicting changes in Earth's climate.

The Radiometer Assessment using Vertically Aligned Nanotubes (RAVAN) CubeSat was launched into low-Earth orbit on Nov. 11, 2016, in order to test new...

Im Focus: Scientists shine new light on the “other high temperature superconductor”

A study led by scientists of the Max Planck Institute for the Structure and Dynamics of Matter (MPSD) at the Center for Free-Electron Laser Science in Hamburg presents evidence of the coexistence of superconductivity and “charge-density-waves” in compounds of the poorly-studied family of bismuthates. This observation opens up new perspectives for a deeper understanding of the phenomenon of high-temperature superconductivity, a topic which is at the core of condensed matter research since more than 30 years. The paper by Nicoletti et al has been published in the PNAS.

Since the beginning of the 20th century, superconductivity had been observed in some metals at temperatures only a few degrees above the absolute zero (minus...

All Focus news of the innovation-report >>>

Anzeige

Anzeige

Event News

Call for Papers – ICNFT 2018, 5th International Conference on New Forming Technology

16.08.2017 | Event News

Sustainability is the business model of tomorrow

04.08.2017 | Event News

Clash of Realities 2017: Registration now open. International Conference at TH Köln

26.07.2017 | Event News

 
Latest News

Gold shines through properties of nano biosensors

17.08.2017 | Physics and Astronomy

Greenland ice flow likely to speed up: New data assert glaciers move over sediment, which gets more slippery as it gets wetter

17.08.2017 | Earth Sciences

Mars 2020 mission to use smart methods to seek signs of past life

17.08.2017 | Physics and Astronomy

VideoLinks
B2B-VideoLinks
More VideoLinks >>>