Electric Power - Peru

Peru eyes US$10.4bn in power generation projects

Peru eyes US$10.4bn in power generation projects

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Peru will invest US$10.4bn in new power generation projects by the end of the decade with a focus on expanding hydroelectric capacity, according to the country's deputy energy minister Edwin Quintanilla.

Speaking during the 10th BNamericas Southern Cone Energy Summit in Lima on Wednesday, Quintanilla said new hydro, wind, solar and thermoelectric plants would total 6.64GW.

The figure almost doubles the country's 2012-end power capacity of 7.62GW on the national SEIN grid.

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

Among Peru's renewable targets is to install 500,000 new photovoltaic systems by 2016.

According Quintanilla, solar power will represent 7% 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.