Costa Rican state-owned electric utility Instituto Costarricense de Electricidad (ICE) plans to set up two new hydroelectric plants in San Carlos with an installed capacity of 80MW.
The projects include the Balsa Lower hydroelectric project and Hydroelectric Project 3 with a 40MW installed capacity each.
ICE executive president Teofilo de la Torre was quoted by The Costa Rica News as saying that the construction of the Toro 3 dam is estimated to cost $100m and will commence operations in the second quarter of 2014.
The Balsa Lower hydroelectric project, meanwhile, is scheduled to begin operations at the end of next year.
The utility is also developing the 320MW Reventazón hydroelectric plant which is expected to be completed within the next two years.
According to Torre the project which costs $1.4bn would provide electricity for both internal consumption as well as for export to other Central American countries.