(CNN) -- Costa Rica's first female candidate held a two-to-one lead in the country's presidential election, as the second-place candidate, Otton Solis of the Citizen's Action Party, conceded defeat. If the PLN -- the Spanish acronym for the ruling National Liberation Party party -- wins, Laura Chinchilla would become the nation's first female president. Polls showed Chinchilla garnering 47.3 percent of the vote, with 24.9 percent of election sites reporting. Solis had 23.3 percent, while Otto Guevara of the Libertarian Movement had 21.9 percent. Before noon Sunday, all three leading candidates had cast their votes in events broadcast live by local media.
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NEW: Solis bows out with 23.3 percent of the vote so far
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NEW: Polls show Chinchilla with 47.3 percent of vote, with a quarter of sites reporting
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Chinchilla represents ruling National Liberation Party
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If no one takes 40 percent of the vote, a runoff election will be necessary
In addition to president, @placeholder also cast ballots Sunday for two vice presidents, 53 congressmen and 495 councilmen.