Peru is the fourth most attractive nation for renewable energy investments in South America, as well as the 9th and 11th for hydro power and geothermal energy projects, respectively, around the world, according to the latest Renewable Energy Country Attractiveness Index—RECAI by EY (previously Ernst & Young).
This year’s RECAI edition revealed Peru ranks 24th in the global arena, which means the Andean nation has moved up four places from the 2015 ranking.
“The Peruvian State has granted incentives to promote renewable energies since 2008. Among the most outstanding are priority for the dispatch of electricity and access to transmission networks, long term stable tariffs, as well as guaranteed distribution and revenues from the total electricity produced,” said Ricardo Del Aguila, partner at EY.
Peru is home to all renewable energy sources: hydraulic (in the Andes), wind (mainly in Ica, Piura and Lambayeque), solar (in Tacna and Moquegua), and geothermal ones, among others.
“Progress has continued at a good pace over the past six years, the State has granted concession of more than 60 renewable energy supply projects,” he pointed out.
According to Del Aguila, 34 of them are already in place, and all the projects should be in operation simultaneously by 2019; in fact their joint production will be at least 6 million MWh a year in the first year.
It is worth noting that Peru’s power consumption in 2015 surged by 42.2 million MWh.
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Published: 6/3/2016