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Costa Rica signs deal with IRENA at COP28

San Jose, Dec 6 (Prensa Latina) Costa Rica and the International Renewable Energy Agency (IRENA) signed on Wednesday a memorandum of understanding to speed up the second energy transition targeted at decarbonizing its domestic economy.

The signing, which will benefit several elements of electric mobility, especially electric buses for the Greater Metropolitan Area, took place as part of the United Nations Climate Change Conference – COP28, being held in Dubai, United Arab Emirates.

A press release from the Ministry of Environment and Energy, on the participation of the Costa Rican delegation to the Dubai event, states that IRENA will provide technical advice for the creation of an investment fund for the electric bus project.

The collaboration will include technical consulting services for preparing, not only investment proposals, but also the identification and connection with potential private investors and multilateral development banks.

According to the text, the existing interconnection with Central America will be very profitable, as there are 61 million people residing there, and 74% of the regional electricity matrix comes from renewable sources.

Costa Rica’s Minister of Public Works and Transportation, Luis Amador, explained the importance of this initiative that seeks to transform the regional transportation corridors in the Greater Metropolitan Area, being a world example of the use of a 100% renewable energy source in public transportation.