Borinquen Geothermal Plant Contract Awarded by ICE in Costa Rica
A $100 million contract for electromechanical equipment has been awarded for the Borinquen I Geothermal Project, which will add 55 MW of power to Costa Rica's grid. The project is over 55% complete and is expected to be operational by early 2030.
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The Instituto Costarricense de Electricidad (ICE) has awarded a contract valued at nearly $100 million for the Borinquen I Geothermal Project, which is anticipated to generate 55 megawatts of firm power and become Costa Rica's eighth geothermal plant. Currently over 55% complete, the project employs more than 500 personnel and is situated in Guanacaste, near established geothermal sites.
The contract covers the main electromechanical equipment, including the generating unit and cooling tower, with a contract signing expected in the second half of 2026. Construction of the powerhouse is slated to start in July 2027, with completion projected for early 2030. The delayed timeline raises concerns about the country's energy infrastructure, particularly given the pressing need for reliable power sources amid rising demand and climate variability.
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