Legislative efforts to promote renewables and geothermal in Peru
Legislation presented in Peru, seeks to encourage investment in non-conventional renewable energies and geothermal energy with short-term objectives for the southern part of Peru.
Congressman Alberto de Belaunde has presented Bill PL 6953/2021 that has the purpose of encouraging the diversification of Peru’s energy matrix through renewable energies that bring environmental benefits and consumers.
The project presented, which has the support of many parties, aims to facilitate the use of wind and solar energy in the national market. In addition, it establishes minimum goals for the use of Non-Conventional Renewable Energy (NCRE) in the country of 20% by 2030 and 50% by 2040. Currently, around 45% of Peruvian electricity is generated with hydraulic energy. This project is intended to give greater weight and encourage the growth of other clean technologies, considered unconventional.
The document also highlights the role of green hydrogen to replace the use of fossil fuels. Peru, which has enormous potential for natural resources such as wind power, for example, quantified at about 22,500 MW, may be one of the major players in the green hydrogen industry if it decides to invest in its natural resources to meet the high demand. energy that the production of this energy vector requires.
Geothermal energy is not forgotten by the bill. The congressman highlights its importance and proposes that projects be promoted in Arequipa, Tacna and Moquegua. In the southern zone, Peru has an estimated 4,000 MW of geothermal potential.
If the bill is approved, for geothermal energy it is established as per the below: