Costa Rica embarks on offshore wind energy studies with support from CABEI and the Republic of Korea

San José, January 31, 2022.- This cooperation, granted to the Costa Rican Institute of Electricity (ICE in Spanish) and the Government of Costa Rica, will finance studies aimed at identifying the potential of offshore wind energy, challenges, risks and opportunities in the development, installation and operation of offshore wind energy. wind farms in the near future.

The studies also include the design of a buoy monitoring system for data collection and assessment of marine-coastal infrastructure for the development of offshore wind energy projects, including market analysis, l technical engineering and design recommendations, together with their respective financial analysis.

CABEI Executive Chairman, Dr. Dante Mossi explained, “Costa Rica is one of our founding partners at the forefront of sustainable energy production in the region, something that we at CABEI have supported over the years in the development of its projects. We are very pleased that this technical cooperation would provide the necessary inputs for the development of an offshore wind farm, which would revitalize the national economy by increasing the diversification of the electricity network, improving local and regional markets and preparing the country for increased demand for the service, as planned by the authorities.

ICE’s Director of Planning and Sustainability, Kenneth Lobo, said, “With these resources, over 18 months, two teams of national and international experts will undertake the task of creating the social, legal, environmental and infrastructural conditions required by the supply chain and governance of the future development of offshore wind in the country”.

“In the same way that we have been pioneers in the consolidation of a renewable electricity matrix, low in greenhouse gas emissions and resilient to climate change, with this initiative we will lay the foundations for the measurement of the resource and we will begin the co-construction of the new blue energy card, marine ecosystem services and the new coastal development poles of Costa Rica,” he added.

In addition, as part of this cooperation, support will be provided for the development of a preliminary environmental and social impact assessment (EIAS) which will contribute to the establishment of a comprehensive social awareness strategy, as well as for capacity building and transfer of technical knowledge to ICE. staff; in addition to accompanying experts with best practices, knowledge and lessons learned from the Republic of Korea in offshore wind farms.

In addition, the preparation of the studies should provide elements to structure the financing of the project, whose funds will come from the first issue of a CABEI Blue Bond, which aims to contribute to sustainable investments linked to the ocean and the wind. to support the advancement of the region’s blue economy, which includes fisheries, marine energy, ports, river rehabilitation, among others.

The execution of the technical cooperation is expected to start during the second quarter of 2022 and be completed within 18 months.

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