Costa Rica finished 12th among the 55 Climatescope countries assessed with a 1.45 score. It fared well among its Latin American regional peers, ranking 6th and topping larger economies Colombia, Argentina and Venezuela.
Home to the largest installed generation capacity in Central America with 2.7GW, Costa Rica has attracted $1.4bn in new non-large hydro clean energy investment since 2006. The funds have directly translated into new commissioned capacity in the country, with a total of 856MW of renewables plants online as of year-end 2013. While small hydro is Costa Rica’s flagship sector (along with 1.2GW of large hydro capacity), geothermal is poised for the biggest growth in coming years, as 155MW of projects are currently in the country’s development pipeline.
Looking ahead, further diversification away from non-hydro renewable sources is expected, as recent droughts and high power prices have forced Costa Rica to move towards more competitive power generation technologies that do not rely on rainfall.