A jump of 1 GW of solar power per year? Expectations for new tenders are gaining ground in Peru

With an investment portfolio exceeding USD 1.8 billion and the implementation of a new bidding scheme still pending, the Peruvian photovoltaic market is generating growth expectations among technology providers, who identify opportunities to increase the rate of plant incorporation in the coming years.

In a dialogue with Energía Estratégica during the Future Energy Summit (FES) Peru 2026 , Cristhian Romero , Business Development Manager of Solar Steel, put figures to those perspectives: "Today what we see is a potential of being approximately 1 GW of renewable solar annually."

In turn, when elaborating on the scope of the projection, he noted: "It is what we have seen in the analysis we carried out with the different developers."

For the executive, this scenario represents an opportunity to expand its participation in a market where it has operated since 2012. “We seek to continue participating consistently,” Romero stated, referring to the commercial possibilities that the company identifies.

The volume of projects going through different administrative stages allows us to gauge the growth potential. According to a report by the Ministry of Energy and Mines (MINEM) in April 2026, there are 13 photovoltaic plants with definitive generation concessions totaling 2,402 MW , equivalent to more than double the country's installed solar capacity at that time, which stood at 1,088 MW.

Arequipa accounts for the majority of this portfolio, with nine projects totaling 1816 MW, while Moquegua accounts for another 322 MW. Initiatives are also present in Ica, including Wayra Solar and Macarena.

The agency projected that the progressive entry of these facilities would allow reaching 3490 MW by 2028, although that horizon is subject to the materialization of the investments and compliance with their respective schedules.

Among the administrative advancements in 2026 is Yuramayo, a 245 MW power plant located in Arequipa, which received its final concession in June. The project involves an estimated private investment of USD 169 million.

Tenders and regulatory definitions

One of the factors that is focusing the attention of developers is the implementation of Law 32249, published in January 2025, which modified the electricity contracting framework to facilitate greater participation of renewable sources.

The regulations introduced the possibility of contracting for separate power and energy , and also established a ten-year tender schedule . This mechanism could expand the commercial options for technologies such as photovoltaics, whose generation depends on the availability of solar resources.

However, the implementation of the new model requires the completion of its regulations . As of early October, the Electricity Procurement Regulations for the Supply of Regulated Users were still pending final approval, meaning that the deadlines and characteristics of future calls for tenders under this scheme were not yet defined.

Having long-term power purchase agreements is relevant to support the financing of power plants and move towards their construction, especially in those initiatives that do not yet have the marketing of their production assured.

During the sectoral discussions, Butrón indicated that the new tenders could be finalized around 2028 , while the entry into operation of the awarded projects would require additional time.

The challenge, therefore, is not limited to the availability of photovoltaic initiatives, but also to the commercial conditions that allow the planned investments to be realized.

Gonvarri seeks to capitalize on the opportunities

With more than 1.2 GW supplied since entering Peru in 2012, Gonvarri Solar Steel intends to maintain its presence in local photovoltaic development, where it claims to have a share of over 60%.

The company offers fixed structures and solar trackers in 1P and 2P configurations, whose characteristics are tailored to the requirements of each installation.

In that regard, Romero warned that PPA contracts are changing the criteria for technological selection.

“We see projects, for example, of more than 100 megawatts that are currently being quoted with fixed structures,” he explained, noting that years ago this alternative was uncommon for installations of such scale due to the generation advantages offered by solar trackers.

The executive argued that current market conditions require analyzing each solution based on expected revenue, necessary investment, and terrain characteristics, rather than automatically favoring configurations that allow for higher energy production.