Virilla Basin joint conservation project
Costa Rica's National Power and Light Company (CNFL)
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This is a joint venture by Costa Rica's National Power and Light Company's and a Norwegian consortium in the Virilla river basin to purchase watershed protection and carbon sequestration services, respectively. The project is aiming to reforest 1,000 ha, and protecting 3,000 ha over the 25 year project timeline. The Private Forestry Project, that this is part of, will allow for the expansion of privately-held conservation areas, through expanded and long-term use of the state's forestry incentives. However, these incentives are changing from the traditional government subsidy to payments for environmental services.