Cannes Lions

From Hydro to Crypto

INTERACTION, San Jose / DATA CENTER CR / 2022

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Background

Costa Rica has run on more than 98% clean energy over seven consecutive years, one of the highest rates of renewable energy generation in the world. Both private and public sectors actively engage in energy generation, being the hydroelectric energy the main source of energy in the country.

However, given that there is a monopoly on electricity distribution, only the Costa Rican Institute of Electricity (ICE) is authorized to sell or export it. In 2020, the ICE began canceling contracts from private generators due to a surplus power supply; therefore, private producers could no longer sell their green energy to anyone else.

In September 2020, while the world was facing a pandemic, Eduardo Kopper, a private energy generator, had to face the most challenging situation. His Company’s energy contracts were also canceled, and he could no longer sell green electricity. By law.