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Peru to focus more on renewable energy sources

In Peru, presently only 2.7 percent energy is renewable energy, a recent article stated in Peruvian papers. From the perspective of economy and environment, much greater diversification is required.


Devdiscourse News Desk Peru
Updated: 23-03-2018 19:19 IST
Peru to focus more on renewable energy sources

“It is difficult to compete with the gas-based generation, which has a low cost and a market structure with favorable regulation,” says the vice president of Peru 2021. (Image Credit: Wikimedia Commons)

In Peru, presently only 2.7 percent energy is renewable energy, a recent article stated in Peruvian papers. From the perspective of economy and environment, much greater diversification is required.

The future goals for Peru regarding renewables are humble as compared to other countries like Chile, Columbia, and Ecuador. These countries committed for 20% of their energy from renewable energy technologies that are, from wind, solar, geothermal and other renewable sources.

"We are one of the countries with the greatest potential to develop this type of energy, but we are not taking advantage of it. We have a highly polluting fossil fuel system that we have prioritized for years, "according to Juan Coronado, president of the SPR, as stated by a news source.

The general manager of Celepsa has echoed that in the current situation the profitability of clean energy project is not guaranteed. Celepsa conducting studies for renewable energy project projects like wind and solar.

"It is difficult to compete with the gas-based generation, which has a low cost and a market structure with favorable regulation," says the vice president of Peru 2021.

According to Global Carbon Atlas, out of 220 countries, Peru stands at 50th that does most emission. Within this list, in South America, Ecuador and Bolivia come under 100, while Uruguay and Paraguay are under 130. These are still in healthier position as compared to others.

With an investment of USD 400 million, Enel Green Power participated in fourth RER renewable energy auction. The firm has won the concession of three renewable generation projects (solar, wind and hydraulic projects).

The firm indicated that its credibility (reliability in different energy segments) would help them in the competition with other technologies and the benefits the firm gets from decreasing price trend will be transferred to the end consumers.

In the shadow of UN Sustainable development goals, the UN, Peru 2021, KPMG and EI Comercio has launched a Peru initiative. The initiative is to inspire actions around sustainability issues that require attention.

In peru, presently the future for geothermal energy looks grim, as it requires policy and legislation support for the country to grow in geothermal energy. The issues surrounding the same are, auction based on price only. This hampers the interest of the geothermal project developer because for base-load capacity it provides no bonus.

COUNTRY : Peru

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