More than 22 GW of solar and wind projects , a storage market that could reach 700 MW by 2030, and more than $12 million in pending investments set the stage for Peru's new discussion on its energy transition.
These figures will be part of the background of the second edition ofFuture Energy Summit (FES) Peru , which will take place on September 28 at the InterContinental Real Lima Miraflores Hotel in Lima, and will bring together authorities, generators, developers, investors and suppliers from the sector.
Regulatory debate, project maturation, and transmission needs will be part of the agenda in a market that has an extensive renewable portfolio but still faces challenges in converting much of that pipeline into operational power plants.
The current energy mix is highly dependent on hydroelectricity and natural gas . According to the market report used in FES training, approximately 53% comes from hydroelectricity and between 35% and 40% from natural gas, while solar and wind power account for around 15%.
At the same time, Peru has outstanding solar resources in the south and competitive wind conditions on the coast , factors that explain part of the interest of local and international developers and investors.
Currently, there are 1095.4 MW of installed solar power and 1021.3 MW of installed wind power , equivalent to 2116.7 MW between both technologies. However, the scale of the initiatives seeking to advance is considerably greater.
The solar portfolio totals 13,778 MW , of which only 2,726 MW have a Definitive Generation Concession. In parallel, there are 8,243 MW of wind power under development , but only 988 MW have this concession.
Between the two technologies there are therefore more than 22 GW in different stages , although a considerable fraction still needs to go through administrative and technical stages before becoming operational capacity.
The difference between the size of the pipeline and the actual degree of progress raises one of the main discussions in the sector: what conditions will allow the most mature initiatives to actually reach construction and operation .
Another indicator reflects this gap. Of the 105 projects with Pre-Operational Studies (EPO) approved by the Economic Operation Committee of the National Interconnected System (COES), only 19 have a Definitive Generation Concession .
The report suggests that the operational power added to approved EPO projects could bring capacity to 24.1 GW by 2030 , although a favorable scenario for new installed capacity is around 5.8 GW .
The regulatory framework will be a key factor in determining how much of that potential can be realized. One of the central points is Law No. 32249, enacted in January 2025, whose implementation still depends on pending regulations.
The regulations amend Law No. 28832 and introduce significant changes to electricity contracting. These include the separation of energy and power contracts and the authorization of tenders for specific time blocks , instead of a uniform supply 24 hours a day.
The scheme seeks to create conditions for greater participation of renewable technologies in future tenders , allowing solar and wind power to submit bids tailored to their respective generation profiles.
Its implementation could enable new opportunities for PPAs and renewable developments , as well as increase competition and promote greater diversification of the Peruvian electricity matrix.
Storage is part of this same transformation. Peru does not yet have a consolidated BESS market , although regulatory and technical conditions are beginning to shape a new stage for this segment.
According to the scenario included in the report, the country could add approximately 700 MW of storage capacity by 2030. Interest has already been expressed by companies such as ENGIE, Enel, Kallpa, Acciona, Sungrow, and Zelestra.
Law No. 32249 recognizes storage and opens the door to new business models, while regulatory procedures linked to complementary services would allow BESS systems not to depend exclusively on energy arbitrage and to access different sources of income.
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Specifically, the regulation of complementary services is among the pending definitions , so its evolution will be closely followed by developers, manufacturers and investors interested in storage.
This is compounded by a recent precedent for the Peruvian system. The gas crisis led to increases in energy prices , reinforcing the discussion about storage, diversification of the energy mix, and reducing exposure to the availability of that fuel.
Mining, large consumers and transmission
Corporate demand will also be a determining factor for the next Peruvian renewable energy cycle. Mining appears to be the main driver due to its significant electricity consumption and the decarbonization goals that are leading the sector to evaluate PPAs, renewable generation, and storage solutions.
The commercial and industrial market is also expanding into cement, agribusiness, manufacturing and retail , segments where interest is growing in corporate PPAs, self-consumption, solar solutions plus BESS and energy management tools.
The increase in electricity prices, in turn, strengthens the appeal of self-consumption among large consumers , adding another vector of demand for technology providers, developers, and energy service companies.
In parallel, transmission is one of the main challenges to supporting projected growth . The existence of solar resources concentrated mainly in the south and significant wind power conditions along the coast necessitates consideration of the infrastructure required to transmit the new generation capacity.
Therefore, the discussion that will reach FES Peru will cover the effective maturity of the projects, the possibilities of connection, the expansion of networks, the rules of contracting and the bankability of the initiatives , in addition to the volume of power that is currently in the pipeline.
The scenario combines strengths and obstacles. Among the former are solar and wind resources, an extensive development pipeline, the presence of national and international companies, and mining and corporate demand interested in renewables and storage .
On the other hand, there remains the pending regulation of Law No. 32249, slow administrative processes, the need for transmission expansion, and a political scenario marked by recent changes .
In economic terms, the size of the opportunity is significant. The survey includes estimates from the Peruvian Renewable Energy Association (SPR) that place the untapped investments at more than US$12 billion .
Who are already positioning themselves for FES Peru?
The lineup of confirmed partners for the second edition of FES Peru reveals which business segments are following this trend. Solar manufacturers, storage companies, structures, engineering firms, consulting firms, financing companies, and specialized services providers will all be represented in Lima.
Sungrow will be a Platinum Partner; JA Solar will participate as a Diamond Partner and CATL as a Storage Elite Partner. They are joined by Jinko and Axial as Gold Partners, while Solar Steel and Gotion will be in the Silver category.
Bronze Partners include FMO, Aurora Energy Research, Chemik Group and Yingli Solar , while Speaker Partners include AFRY, Marsh, Antai, DQD, Factiun, Capo Energy, Valterra and Ventus .
The business participation is completed by BLC Power Generation, VersolSolar, Alurack and GCL within Video & Brand Partners.
The meeting will also feature strategic allies linked to the regional energy ecosystem, including ACESOL, the Peruvian Renewable Energy Society (SPR), the Peruvian Hydrogen Association, Peru Renewable and the Latin American and Caribbean Council on Renewable Energy , along with Energía Estratégica, Energía Estratégica Storage and Invest in Latam.
The presence of module manufacturers, inverters, battery suppliers, structures, developers, and engineering firms reflects the breadth of market opportunities , along with the various pieces that will need to align to transform the current pipeline into operational assets.
For developers and investors, the focus will be particularly on the implementation of the new regulations, future tenders, ancillary services, PPAs, and transmission expansion . For manufacturers and suppliers, the size of the solar and wind portfolio, along with the emerging BESS segment, presents an opportunity linked to the effective pace of implementation.
Thus, FES Peru will arrive in Lima at a time when the country is gathering resources, demand, projects and interested companies, while still having pending decisions necessary to accelerate its materialization .
With more than 22 GW of solar and wind power in the pipeline and a potential storage market of around 700 MW by 2030 , the progress of regulations, infrastructure and the maturity level of the projects will determine how much of that volume manages to move from paper to the Peruvian electricity system.