Chemik is aiming for 14 GW of solar power in Peru, but warns: “Everything is a trade-off” in the face of the new wave of renewable projects

With 1247.9 MW of solar projects that received final concessions in Peru during 2026 and a potential need of up to 1 GW of BESS , the pressure began to concentrate on a key piece of equipment: transformers .

“Data centers use a lot of transformers, BESS projects, solar projects... everything is transformer, transformer, and that point is really putting a lot of strain on manufacturers,” warned Héctor Erdociain , Chief Strategy Officer and Chief Technology Officer of Chemik , during the panel “Projects and success stories: experiences in the development, engineering, services and construction and operation of renewable power plants and storage” , held at Future Energy Summit (FES) Peru.

The signal already had international repercussions. The International Energy Agency estimated that the lead times for acquiring large transformers had practically doubled compared to 2021 and could reach up to four years , while their prices had increased by around 75% in real terms since 2019 .

In Peru, the volume that the infrastructure had to absorb continued to grow. The country had approximately 13,778 MW of solar capacity in various stages of development , of which 2,726 MW had received final permits. This was in addition to a planned addition of about 4.5 GW of renewable energy and new storage and transmission requirements.

On this last front, ISA Energía projected more than USD 1.3 billion in investments, with 1400 kilometers of new lines, six substations and 20 expansions, while ACCIONA was moving forward with four high-voltage initiatives.

Erdociain distinguished this pressure from the available capacity at eBOS. “From the manufacturers' perspective, I think we are more than prepared to handle whatever comes. We are supplying more than 6 GW per year, so I don't think the problem will be manufacturers' ability to supply,” he stated.

Nearly 1 GW in Peru and up to 4% less CAPEX from the design stage

With nine large solar projects planned between 2026 and 2028 for 1420 MW , Peru was entering a phase where the discussion was starting to shift from the pipeline to how to implement new capacity at a lower cost and faster speed.

That's where Chemik was looking to position itself. The company manufactured electrical Balance of System (eBOS) solutions, had accumulated around 40-41 GW supplied worldwide , and was already approaching 1 GW in Peru .

Erdociain used a local 465 MW project, where the company had supplied the complete eBOS, as a reference to explain a strategy based on getting involved in engineering earlier and not just responding to a closed specification.

“ You don’t stick to the RFQ that the client might send you, but you propose from the beginning ,” he explained.

That design flexibility could be directly translated into CAPEX. “ If we get involved in the early stages of projects, we can optimize costs significantly ,” he said.

One example was String Plus , a solution that allowed for modifying the number of modules per string. According to the executive, in locations with significant temperature differences between winter and summer, the configuration could incorporate two additional modules and achieve optimizations of up to 4% of the total CAPEX .

The experience of the 465 MW also left another signal for a portfolio that had to move on to construction: part of the electrical work had been carried out with personnel from the La Joya area, previously trained, using solutions designed to simplify the installation.

From pipeline to construction: regulation and execution marked the next filter

Peru had accumulated 13,778 MW of photovoltaic projects in various stages of development , but only 2,726 MW had received final approval. For Chemik, the challenge was no longer supply capacity, but rather how much of that portfolio would actually be converted into projects.

“ We usually have more capacity than our customers buy from us ,” Erdociain acknowledged. “ We depend on our customers daring to build .”

At that point, the executive identified regulation as one of the decisive factors. The Peruvian market was also beginning to modify its contracting rules: Law 32249 had opened the possibility of bidding for energy in blocks and entering into long-term contracts of up to 15 years , a change aimed at facilitating greater participation of new technologies in the electricity supply.

For Chemik, this regulatory evolution could determine how much its presence, already approaching 1 GW supplied in Peru , would grow. The opportunity lay in a portfolio exceeding 13 GW, but the actual business would depend on how many projects managed to secure permits, contracts, and financing, and ultimately reach the construction stage.

With several developments targeting COD between 2027 and 2028 , the challenge thus shifted from identifying projects to executing them: finalizing competitive designs, ensuring connectivity, and having the necessary equipment in time to support the new investment cycle .