Costa Rica Renewable Energy Investing

Costa Rica’s renewable energy market stands out among emerging markets for its strong commitment to renewables, long-term strategic planning, and geographic advantages.

The Costa Rican Institute of Electricity (ICE) was created in 1949. As a public institution, ICE was required by law to ensure the country's energy supply. Today, the country is a net exporter of electricity.

Not only has Costa Rica been a hotspot for U.S. tourism, but it has also attracted U.S. manufacturers due to its strategic location, skilled workforce, economic incentives, and stable energy infrastructure.

As Costa Rican renewable energy continues to expand, there are opportunities for investors both from the United States and around the world to participate in this emerging energy market.

Let's first examine some data about Costa Rica's energy market.

Costa Rica Electricity Generation Facts

From May 2025 to April 2026, Costa Rica generated 98% of its electricity from low-carbon sources. Here is the breakdown.

• Hydropower (74.8%)
• Geothermal (11.0%)
• Wind (12%)
• Biofuels (0.4%)

Leveling the Risks

While electricity generation is distributed across various sources, hydropower's allocation is disproportionately high given the impact of periodic droughts. The Costa Rican Institute of Electricity had to ration electricity in mid-2024 due to drought conditions.

Costa Rica is mitigating climate risks by diversifying its energy sources away from heavy reliance on hydropower.

Expanding Wind Energy

One suggestion from LowCarbonPower.com is that Costa Rica focus on expanding its wind and possibly nuclear energy installations to increase low-carbon electricity generation.

However, compared to nuclear power plants, wind turbines require less investment and have shorter project timelines before they begin producing electricity.

Geothermal energy projects also take longer to develop than wind energy. For example, the Miravalles Geothermal Project commenced in 1988 and was commissioned seven years later. In contrast, wind turbine installations take approximately half the time to complete.

What About Utility-Scale Solar?

Despite ample sunshine in some regions, utility-scale solar has struggled to gain a foothold in Costa Rica largely because the grid was already dominated by cheap, dispatchable renewables such as hydropower and wind.

The country's wet, cloudy climate, which makes its rivers so productive for hydro, simultaneously limits solar irradiance across much of its territory.

An Investment Opportunity in Costa Rica Renewable Energy

Accredica has partnered with Antevista Energy Costa Rica to develop a 35+/- MW wind farm in Costa Rica. We are raising co-development capital for the project. The project has secured equity and debt financing from our Swiss partners and is "pre-shovel-ready."