Costa Rica Energizes Future with $1.5 Billion Boost in Renewable Power

In a bold stride towards sustainability and energy independence, Costa Rica sets its sights on an ambitious expansion of its power generation capabilities. By 2032, the nation plans to augment its energy park by an impressive 675MW, backed by an estimated investment of US$1.5 billion. This move not only signifies Costa Rica’s commitment to green energy but also positions it as a leader in renewable power generation in the region.

A Renewable Energy Renaissance

Under the guidance of the state power company, Instituto Costarricense de Electricidad (ICE), Costa Rica embarks on a transformative journey. Kenneth Lobo, the electricity planning and sustainability director at ICE, recently unveiled plans to integrate 412MW of solar, wind, and biomass energy into the national grid by 2025-26. This venture alone commands a substantial investment of US$539 million, marking a significant milestone in the country’s renewable energy roadmap.

Geothermal and Hydro: Pillars of Stability

To complement these intermittent energy sources, Costa Rica is also advancing in the realm of geothermal and hydroelectric power. The development of Borinquen I and II geothermal projects is poised to add 110MW to the grid, with each site contributing 55MW. Furthermore, the Fourth Cliff hydroelectric project is expected to generate an additional 55MW, bolstering the nation’s energy resilience with reliable and sustainable power sources.

Progress and Projections

The construction of Borinquen I is well underway, with progress reported at 44% and an anticipated operational date set for 2027. Meanwhile, Borinquen II is not far behind, with feasibility studies reaching 35% completion. The Fourth Cliff hydro project is also nearing the end of its feasibility stage, setting the stage for a future where renewable energy is paramount.

Embracing Private Sector Participation

Recognizing the importance of collaboration and innovation, ICE is actively seeking private sector involvement to achieve its renewable energy ambitions. In the coming months, ICE plans to issue calls for renewable energy projects, aiming to attract investments and expertise to supplement ongoing and future tenders. This approach not only diversifies the country’s energy portfolio but also encourages a competitive and dynamic energy market.

Strengthening the Backbone of Renewable Energy

To ensure the seamless integration and reliable dispatch of renewable energy, substantial upgrades to the nation’s energy infrastructure are essential. ICE is committed to reinforcing its dispatch infrastructure, including the enhancement of lines and substations, with a combined investment of US$160 million. These improvements are critical for accommodating the influx of renewable energy and maintaining the stability and efficiency of the power grid.

Costa Rica’s Visionary Leap

Costa Rica’s endeavor to expand its power generation park by 675MW by 2032 through a US$1.5 billion investment is more than just an infrastructure project; it’s a testament to the country’s visionary approach to energy production and environmental stewardship. By embracing a diverse mix of renewable energy sources and fostering public-private partnerships, Costa Rica is not only securing its energy future but also setting a global standard for sustainability and innovation in power generation.

As Costa Rica continues to chart its course towards a greener, more sustainable energy landscape, the world watches and learns from this small nation’s big leap into the future of renewable energy.