During the first half of 2024, Peru achieved a significant milestone in its renewable energy sector by connecting two new solar projects to the National Interconnected Electrical System. These projects located in Cajamarca and Moquegua departments contribute a combined capacity of 115.55 MW.
Peru's Expansion in Solar Energy Capacity
Peru aims to increase its solar energy capacity by 500 MW by the end of 2024. This ambitious goal is supported by recent developments in the Cajamarca and Moquegua departments where new solar projects have been integrated into the national grid.
In February, the Carhuaquero solar power plant began operations with a capacity of 0.55 MW in Cajamarca. This solar project located in the districts of Llama and Catache in the Chota and Santa Cruz provinces of Cajamarca required an investment of $400,000 to become operational.
Image: Collected
Also in February, the Clemesí solar power plant commenced operations in the province of Mariscal Nieto, department of Moquegua with a capacity of 115 MW. Spanning 270 hectares. This project features over 220,000 bifacial solar panels each generating 525 Wp with an investment of $81 million.
"The commercial operation of Clemesí ensures a stable supply of renewable energy for economic activities outlined in our commercial agreements. It also signifies our commitment to being a key partner to industries driving the nation, providing sustainable, dependable, and cost-effective energy solutions," said Eugenio Calderón, Head of Power Generation, Perú.
Investment and Acquisition in Renewable Energy
In May, Actis acquired the Clemesí solar project from Enel Generación Perú and Compañía Energética Veracruz for $1.3 billion. This transaction included various renewable energy assets highlighting Peru's attractiveness for renewable energy investments.
Enel Generación Perú holds a prominent position in the Peruvian electricity sector boasting an installed capacity of 2.3 gigawatts (GW) accounting for 16.8% of the nation's total available power. This capacity enables it to provide sustainable, dependable and cost-effective energy solutions. Additionally, it leads in renewable energy generation in Peru with approximately 600 MW from solar and wind sources and a robust portfolio of renewable projects exceeding 12,000 MW.
Enel Generación Perú begins commercial operation of Clemesí and consolidates the largest solar hub in the country
Future Prospects and Projected Capacity
The Matarani solar power plant scheduled to begin operations in Arequipa will contribute 97 MWp to Peru's solar energy capacity. Located in the Mollendo Desert and known for its abundant solar radiation, this plant is expected to generate 260 GWh annually and play a pivotal role in Peru's renewable energy landscape.
According to the International Renewable Energy Agency (IRENA), Peru had installed 287 MW of photovoltaic power by the end of 2023. With ongoing and planned projects, Peru is on track to achieve nearly 500 MW of operational solar capacity by the conclusion of 2024.
Peru's progress in solar energy is demonstrated by recent project integrations and planned expansions positioning the country as an emerging leader in renewable energy within South America.