Grupo Enhol begins its operations in Central America with the San Miguel wind farm (43.2 MW) in Guanacaste (Costa Rica), laying the foundations for a renewable platform with a long-term presence in the country and the region.
The transaction includes a long-term power purchase agreement (PPA) with Copelesca for 100% of the energy produced and an estimated investment of approximately $100 million, reinforcing Enhol’s profile as a stable industrial investor.
The project is being developed together with NAIAD Renovables, a family-owned business group, with the support of several family offices from the Balearic Islands, in an alliance based on a long-term asset management vision, sustainability and the creation of stable value.
In this way, Grupo Enhol takes a decisive step in its international growth strategy with its entry into Costa Rica, a country that is a global benchmark in renewable energy development and a priority market for the company due to its institutional stability, solid regulatory framework and strong long-term growth potential.
The transaction is structured around the San Miguel wind project, located in the province of Guanacaste, which will have an installed capacity of 43.2 MW. This investment marks the start of Grupo Enhol’s operations in Central America and lays the groundwork for the development of a renewable platform with a long-term presence in the country and the region.
“Costa Rica represents a strategic step in our international roadmap: it is a stable market, with a strong commitment to renewable energy and significant long-term growth potential,” say Diego and Gonzalo Oliver, Co-CEOs of Grupo Enhol. “With San Miguel, we are launching our operations in Central America with a long-term vision, reinforcing our role as an industrial investor committed to the development of the regions in which we operate, alongside top-tier partners with whom we share values and vision,” they add.
With a 55% stake, Grupo Enhol strengthens its positioning as a long-term industrial investor, focusing on strategic and stable assets. The plant will have a long-term power purchase agreement (PPA) with Copelesca, ensuring legal certainty, long-term visibility and an optimal framework for the development of high-impact sustainable investments.
The total estimated investment in the project amounts to approximately $100 million, reflecting the scale and strategic nature of the transaction for the group.
The San Miguel project is being developed in partnership with NAIAD Renovables, under a strategic agreement that includes the development of several projects in Costa Rica and other countries in the region. Beyond a one-off co-investment, the collaboration between Enhol and NAIAD is based on a shared long-term vision focused on creating sustainable value and contributing to the economic and social development of the regions in which they operate.
NAIAD Renovables is an investment company backed by well-established entrepreneurial families, including several family offices from the Balearic Islands. These investors bring a strong asset-based, long-term perspective, focused on financial prudence and sustainability—values that align fully with Grupo Enhol’s model.
“The partnership with NAIAD Renovables is particularly relevant due to the cultural fit and shared long-term vision. We share an investment approach based on responsibility, financial strength and sustainable value creation, and we believe that the combination of our capabilities will allow us to build a strong renewable platform in Costa Rica, with leadership ambitions in the country,” state representatives of Grupo Enhol.
The joint ambition of Enhol and NAIAD is clear: to build a solid renewable generation platform in Costa Rica and progressively advance towards becoming one of the country’s leading renewable energy producers, actively contributing to the region’s energy transition.
The San Miguel project represents the first step in a long-term strategic partnership that strengthens Grupo Enhol’s position as a relevant player in the global renewable energy sector and consolidates its commitment to stable markets, sustainability and high growth potential.
