Peru to invest $10.4 billion on renewables expansion

• 10 years ago (2013-11-08)
• Junior Isles

Renewables 752

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Peru is to invest $10.4 billion in new power generation projects before the end of the decade, with hydroelectric capacity primed for specific expansion, according to Peru’s deputy energy minister Edwin Quintanilla.

Speaking at the 10th BNamericas Southern Cone Energy Summit in Lima this week, Quintanilla stated that the capacity of new hydro, wind, solar and thermoelectric plants would total 6.64 GW.

This is nearly double the existing power capacity of 7.62 GW on the country’s national SEIN grid as of 2012.

"During this period hydroelectricity will rise to 64 per cent of total generation from 54 per cent today," Quintanilla said.

Another of Peru's renewables targets, according Quintanilla, is to install 500 000 new solar PV systems by 2016. Solar power will hopefully represent 7 per cent of Peru's total power growth by the end of the decade.

"We believe that it is possible to attend to residential demand, even in the most remote areas, with solar power," Quintanilla added.