Costa Rica positions itself as a regional example amid the global energy crisis triggered by tensions in the Strait of Hormuz. The Central American country, which generates over 98% of its electricity from renewable sources, has announced new plans to further reduce its dependence on oil.
The Costa Rican president presented this week a solar energy expansion plan that envisions the installation of 500 additional megawatts by 2028. "The global crisis confirms we bet on the right path," he stated during a press conference.
However, transportation remains the country's Achilles heel. Fossil fuels account for over 60% of the transport sector's energy consumption. The government announced tax incentives for electric vehicle purchases and the expansion of the metropolitan electric train.
Experts from the Costa Rican Electricity Institute indicated that the country could become a net exporter of clean energy to its Central American neighbors within the next five years, strengthening regional energy integration.
Costa Rica also seeks to attract foreign investment in green technology, positioning itself as a hub for sustainable innovation in the region.