Swedish Firm Looking to Deploy Its Hybrid Ocean Energy Platform in Costa Rica

Why It Matters

The project could unlock cost‑competitive offshore renewable power for Costa Rica and accelerate hybrid marine technology adoption across Latin America, diversifying the region’s clean‑energy mix.

Key Takeaways

• NoviOcean’s 850 kW Medi Wave 850H targets three Costa Rican coastal zones.
• Hybrid configuration may boost generation 160 % while lowering LCOE 20‑30 %.
• CAPEX rises ~80 % versus single‑source platforms, offset by efficiency gains.
• Successful pilot could catalyze similar deployments in Mexico, Peru, Chile.

Pulse Analysis

Hybrid offshore platforms that combine wave, wind and solar generation are emerging as a way to smooth intermittency and improve capacity factors in marine environments. NoviOcean’s Medi Wave 850H leverages proven turbine and photovoltaic technologies on a floating hull, allowing it to capture energy from three sources simultaneously. By integrating these resources, the system can generate up to 3,285 MWh per year per unit, a 160 % increase over a comparable single‑source device, while delivering a 20‑30 % reduction in levelized cost of energy. The trade‑off is a higher upfront capital outlay—about 80 % more—but the efficiency gains can make the investment attractive in markets with strong marine resources.

Costa Rica’s Pacific coastline offers a unique blend of consistent wave activity, high solar irradiation and localized wind corridors, especially in the Papagayo, Nicoya/Puntarenas and Osa Peninsula regions. The MoU with MIR Green Energy will map suitable pilot sites, conduct environmental impact assessments, and outline financing structures that could involve green bonds or multilateral development bank support. Water depths between 20 and 200 metres fit the platform’s design envelope, and the projected annual output of 2,300‑3,285 MWh per unit could supply a sizable fraction of local demand, reducing reliance on imported fossil fuels and supporting the country’s ambition to reach 100 % renewable electricity by 2030.

If the Costa Rican demonstration proves technically and economically viable, it could serve as a template for neighboring markets such as Mexico, Peru and Chile, where wave energy potential is even greater. The hybrid approach mitigates the risk of resource variability, making it easier to secure private investment and government incentives. Moreover, the project aligns with broader regional goals to decarbonize the power sector and meet climate commitments, positioning hybrid marine technology as a strategic asset for Latin America’s clean‑energy transition.