Sweden-based NoviOcean is exploring the options for the deployment of its hybrid offshore renewable energy platform, which combines wave, wind, and solar energy technologies, in Costa Rica.
NoviOcean has signed a memorandum of understanding (MoU) with MIR Green Energy to explore the deployment of the Medi Wave 850H platform along the Pacific coast of Costa Rica, which is said to offer consistent wave energy, high solar irradiation, and localized wind corridors, particularly in the Papagayo region.
Under the agreement, the partners will explore the identification of suitable pilot sites, feasibility assessments and environmental considerations, engagement with Costa Rican authorities and stakeholders, development of market entry strategies and financing structures, as well as potential pilot and demonstration projects.
Three potential deployment zones are under consideration, including Papagayo in Northwest Costa Rica, which has strong wind conditions suitable for a full hybrid configuration, Nicoya/Puntarenas, which is wave-dominant with solar support, and Osa Peninsula, which has the strongest wave resource, suitable for wave-solar configuration, NoviOcean reported.
The platform is designed to operate in water depths ranging from 20 to 200 meters and has a rated capacity of 850 kW. According to project estimates, the triple-hybrid configuration can increase energy output by up to 160% compared to single-source systems, while increasing CAPEX by around 80%, leading to an overall reduction in levelized cost of energy (LCOE) in the range of 20-30%.
Estimated annual energy production per unit ranges from approximately 2,300 MWh to 3,285 MWh, depending on location and system configuration.
If successful, a pilot project in Costa Rica could serve as a demonstration site for wider regional adoption, including in markets such as Mexico, Peru, and Chile, where wave energy resources are even stronger, the Swedish company said.