Government changes, the evolution of long-term tenders and auctions, and the creation of new regulations for battery storage systems are ushering in a decisive phase for the energy markets of Peru and Colombia. Both countries have significant renewable energy portfolios, but face the challenge of transforming announcements, permits, and awarded capacity into bankable and operational projects.
This new scenario will be the focus of two Future Energy Summit (FES) meetings: the first will take place on September 28 at the InterContinental Real Lima Miraflores Hotel in Lima, Peru , while the second will take place on October 1 at the JW Marriott Hotel Bogotá in the Colombian capital .
The conference will bring together generators, developers, manufacturers, EPC contractors, technology providers and industry leaders to analyze what signals investors need in light of the new political and regulatory configuration of the two markets.
The agenda will cover BESS systems, utility-scale solar projects, wind energy, commercial and industrial power generation, and new investment opportunities . In Colombia, the development of offshore wind will also be analyzed, while both events will present projects, success stories, and experiences related to the engineering, construction, financing, and operation of renewable energy assets.
Peru: an expanding renewable energy portfolio, pending regulations, and new rules for storage
The Peruvian market is undergoing a political transition that could alter the pace of investment. The new administration, headed by Keiko Fujimori, appointed Guillermo Shinno as Minister of Energy and Mines , at a time when the sector is demanding greater regulatory predictability.
For the renewable energy industry, one of the main questions is how the Government will move forward with the implementation of Law No. 32249 , particularly regarding long-term tenders, complementary services and the separation of energy and power products.
The regulation could modify the contracting structure of the Peruvian electricity market. However, industry sources indicate that its ability to attract capital will depend on the content of the regulations and on whether future tenders offer predictable contracts, adequate guarantees, and conditions compatible with financing.
The magnitude of the opportunity can already be measured in the portfolio under evaluation. Peru has a portfolio of 63 photovoltaic solar power plants with Pre-Operational Studies approved by the Economic Operation Committee of the System (COES), which together represent 13,778.2 MW . Of the total, the 20 largest solar developments currently in the permitting process alone account for 7,542.9 MW , concentrated mainly in Arequipa and Moquegua.
The Peruvian Renewable Energy Association (SPR) has identified a portfolio of 58 renewable projects totaling 12.5 GW , associated with potential investments exceeding US$12 billion .
In this context, the incorporation of storage is becoming increasingly important. The implementation of technical procedures PR-21 and PR-22 in August and September, respectively, introduces new variables for evaluating the profitability of BESS systems. While these signals are still being consolidated, mining is positioned as one of the primary drivers of storage demand in Peru .
The debate takes on an additional dimension in the face of operational constraints. The interruption of supply from Camisea forced the use of liquid fuels and drove electricity prices above $250 per MWh .
That episode reopened the debate on diversification, batteries, demand management, and dependence on specific supply sources. The potential impact of El Niño adds pressure to a power mix in which hydroelectricity continues to play a central role.
The FES Peru agenda will reflect these challenges. The meeting will analyze the evolution of the photovoltaic market, the role of energy storage, and the conditions necessary to unlock a new wave of renewable energy investments.
The discussion will include financing models, investment conditions, and business opportunities associated with clean energy. Another focus will be on concrete experiences in the development, engineering, and construction of renewable energy plants and storage systems .
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These matters will be analyzed in Lima by Jaime Toledo, CEO for South America of Acciona Energía; Guillermo Grande, CEO of EDF Peru; David Quesada, CEO of Valterra and Juan Elías Salinas, general manager of Fenix Power.
Also participating will be Nicol Pomalia, commercial manager of CAPO Energy; Álvaro Villasante, vice president of Business Management and Innovation at Grupo Energía Bogotá; César Sáenz, managing director for Chile and Latin America at Gotion; Pablo Oliva, sales manager for Latin America at Axial; Héctor Erdociain, chief strategy officer at Chemik; and Luis Contreras, managing director for Europe and Latin America at Yingli.
Colombia: New awards and a strong demand signal
Colombia will arrive at the Bogotá meeting after being awarded 995 MW of solar generation and 100 MW of storage in its long-term auction. The selected projects represent a total of 4,564 MWh/day of contracted capacity and include 15-year agreements, with supply beginning in 2030.
The process demonstrated significant interest from both buyers and offtakers . Demand exceeded available supply, confirming the need to expand the portfolio of projects capable of competing for long-term contracts.
Two of the four products were awarded, while the remaining two did not advance due to the plurality and concentration requirements stipulated in the process. The decision regarding these remaining blocks will be relevant in determining whether they will be included in a new call for bids or if their design will be adjusted.
Energy storage is beginning to gain traction within this expansion. Recently, the Energy and Gas Regulatory Commission also moved forward with a framework for developing calls for proposals for energy storage projects and remuneration mechanisms for investors . These definitions could expand battery revenues through capacity, ancillary services, arbitrage, and grid support.
The new Minister of Mines and Energy, María Nohemí Arboleda , will assume this agenda on August 7 in a market that will have to coordinate new generation, network expansion, reliability and investment signals.
Colombia also added a new growth front with the initial award of its first offshore wind development. The project, linked to Copenhagen Infrastructure Partners, encompasses 425 MW and an investment of nearly US$1 billion .
The initiative represents a first step towards the national goal of achieving 7 GW of offshore wind energy by 2040 and expands an agenda that has so far been mainly focused on onshore solar generation.
FES Colombia will analyze how to boost the next solar growth cycle, meet increased consumption, and strengthen the reliability of the electrical system .
The agenda will also include BESS systems, hybrid projects, distributed generation, electrification, and storage as a competitiveness strategy for the industry.
These topics will be addressed by Esteban Arroyave, Vice President of Generation Projects at Isagen, one of the winners of the auction; Oscar Bravo, President of Terpel; and Diego Pérez, Vice President of Energy Solutions at Promigas.
Also participating will be Alfonso Queipo, CEO of PV Hardware USA; Enrique Garduño, CEO of Skysense; Marco Ricci, Latam sales director of Solax Power; and Rubén Borja, country manager of Atlas Renewable Energy.
The technology agenda will also include Danisa Butko, ESS sales manager for Latin America at Gotion; María José Muñiz, sales manager at Asturmadi by Reenergy; Juan Carlos Ocampo, commercial director at Alurack; and María Urrea, head of commercial at TCL.
The presence of generators, developers, energy companies, and suppliers will complement the opportunities opened by the new awards with the necessary technical, regulatory, and financial conditions to execute the projects.