Peru Moves Toward a Greener Future: Approval of the Renewable Energy Bill

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Date: June 16

The future of renewable energy in Peru looks brighter than ever. Recently, a bill was approved that would modify Law 28832, Law to Ensure the Efficient Development of Electricity Generation. This approval, celebrated by the Peruvian Renewable Energy Association (SPR), is a significant step towards a more sustainable energy future for the country.

The bill, which was approved with 12 votes in favor, 4 against and 2 abstentions, proposes changes in the structure of the distributors’ tenders, creating hourly blocks and separating power and energy. This modification would allow the participation of wind and solar power plant projects, thus contributing to the diversification of the Peruvian energy matrix.

Juan Coronado Lara, General Director of Ignis Energía Peru, sees this change as something positive. According to him, the implementation of this law will result in lower rates when new renewable plants are sold in the regulated market, decentralization of electricity generation, diversification of the energy matrix, reduction of emissions and generation of new investments.

Law 28832 seeks to ensure the sufficiency of efficient generation that reduces the exposure of the Peruvian electrical system to price volatility and the risks of prolonged rationing due to lack of energy. In addition, it intends to reduce administrative intervention to determine generation prices through market solutions. He also seeks to adopt the necessary measures to foster effective competition in the generation market and introduce a compensation mechanism between the SEIN and the Isolated Systems.

At Andina Energy, we celebrate this advance in Peruvian legislation. We believe that renewable energy is not only vital to Peru’s energy future, but also offers significant opportunities for economic growth and job creation. We are committed to the promotion and development of renewable energy projects in the region and look forward to seeing how this new law drives the growth of the renewable energy sector in Peru.

The approval of this bill is an important milestone in Peru’s transition towards a cleaner and more sustainable energy matrix. It is a testament to the country’s commitment to renewable energy and a positive step towards a greener future. At Andina Energy, we are excited to be a part of this journey and look forward to continuing to support the development of renewable energy in Peru and throughout the region.

Source: Perú Energía

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