Peru Accelerates its Energy Transition: Renewables Bill is Presented

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Date: May 26

In a significant initiative to strengthen its energy transition, the Government of Peru has given the green light to a major Renewables Bill. The legislative framework, widely supported by the energy industry, has the potential to lay a solid foundation for the growth of renewable energy in the country.

The Renewable Energy Bill, which is still pending approval by Congress, aims to consolidate and expand the participation of clean energies in Peru’s energy matrix. This aligns with global efforts to mitigate climate change and the growing demand for cleaner, more sustainable energy sources.

The bill seeks to improve the competitiveness of the renewable energy sector, promoting investment in new technologies and projects. At the same time, it aims to provide a regulatory framework that guarantees the stability and predictability necessary for the development of renewable energy projects.

This legislation could have a significant impact on the Peruvian energy sector. It ensures dispatch priority for renewable energies in the National Interconnected Electric System (SEIN), as well as establishes the obligation of distribution companies to acquire a percentage of their energy from renewable sources.

In addition, the bill includes measures to encourage small-scale renewable energy generation, such as solar photovoltaic power and wind power, which can be harnessed by homes and small businesses.

In the long term, these measures could reduce the country’s dependence on fossil fuels and allow it to meet its emissions reduction targets. In addition, they can foster job creation in the renewable energy sector, contributing to the local economy and the prosperity of communities.

The Renewables Bill represents an important milestone in Peru’s efforts to address the challenges of climate change and to ensure a sustainable energy future. This regulatory framework could boost the growth of the renewable energy sector and make Peru a leader in the energy transition in Latin America.

However, much work remains to be done to ensure the effective implementation of these policies and to overcome existing challenges. The active participation of all stakeholders in the sector, together with the support of the government and society in general, will be essential for the success of this initiative.

Source: Andina Energy

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