Billion Dollar Investments in Hydro, Wind, Solar & Biomass for Peru

Peru should get about US$1 billion in investments after signing 26 green energy contracts, which will  last for 20 years and will generate about 9% of current power demand in the Andean country. Among the companies are Spanish firms T-Solar and Solarpack, which will together build an 80 megawatt solar project.

Marco Aquino for Reuters World Environment News (6 April 2010):

Peru should get about US$1 billion in investments after signing 26 green energy contracts, companies involved said on Monday.

The contracts last for 20 years and will generate about 9 percent of current power demand in the Andean country, the government said.

The deals, signed with foreign and domestic companies, include a total of 412 potential megawatts of “clean” energy produced by wind farms, solar panels, dams and biomass, among other natural resources.

Among the companies are Spanish firms T-Solar and Solarpack, which will together build an 80 megawatt solar project.

“The investment forecast are some $1 billion for the 26 projects,” said Juan Coronado, head of a project put together by a firm called Energia Eolica.

All of the contracts come with pacts enabling the generators to sell power to Peru’s main distribution companies.

The deals include 162 megawatts of hydro power, 142 megawatts of wind power, 80 megawatts of solar and 27 megawatts of biomass, Peru’s energy ministry said.

All projects should be in operation by 2012, the government said.

The green energy contracts come as Peru has also pushed to open up vast sections of its land and sea to petroleum exploration as part of a drive to become a net exporter of oil and gas.

Source: www.planetark.org