Peru: 4500 Megawatt Wind Power Projects in Study

(Photo credit: Getty Images.) Wind power projects for a total of 4500 megawatts have been granted to several investing companies in Peru and are being analyzed for approval, while a wind map to inform investors about the capacity of different parts of the country will be available in a few months, the Energy and Mining Ministry of Peru announced recently (PDF link).

Both news are part of a policy by the government to push renewable energies, which includes incentives for investors, among them a 12% internal rate of return and guaranteed purchase for the generated electricity, The Temas Blog notes. The government wants to have 5% of energy coming from wind in two years.

Did you know that the Peruvian coastline has a potential for 65,000 megawatt wind power generation? Keep reading for more.Pushing Wind Power in Peru

In order to push renewable energy generation, the Peruvian government launched a package of measures to encourage investments in the area. Its main features were guaranteed internal rate of return of 12% (which they actually calculate in 14% if you add income for carbon credits), accelerated depreciation up to 20% per year, and guaranteed purchase of the generated power.

A few months later, the plan seems to be working: by May, the wind power projects granted to investment companies added up to 1200 megawatts, but since then that number has almost tripled. At the end of August, the government announced that it had granted a total of 37 wind power projects, which add up to 4500 new megawatts generation. Authorities said many of them could be executed in 24 months.

On the bigger picture, the government wants to have 5% of all the energy commercialized in Peru coming from wind power in two years (as said by vice minister Pedro Gamio in an official communication last May). More yet, the goal is to get to 2011 with only a third of the economy relying on petrol, another third on natural gas, and the last to renewable energies.

And they're getting there: last December, the Vice Ministry of Energy informed that dependance on petrol has gone from 70% to 53% in the last three years in the country.

Wind power in particular has a bright future in the country: the World Meteorology Organization says Peru has 28 of the 32 climates appropriate for wind power generation, and that only in the country's coastline there's a potential of 65,152 megawatts (as published in the blog El Escudo de Orlac).


Inauguration of a wind tower to measure the capacity in Paracas, Peru. (Source: Andina).
Peruvian Wind Power Projects Already on the Go

One of the most important projects already approved is a wind power park in Paracas, a coastal district in the province of Pisco. The company behind it is Iberoperuana Inversiones (part of Windiberica), with a 240 million US dollars investment.

The park will generate 240 megawatts and will give electricity to 80 thousand families in Peru, according to the government (more details on this article -outside treehugger-).

Apart from that, the government announced that thorough the coastline there are seven other projects in study.

:: Via The Temas Blog

Additional information:
Official communication by Peruvian Ministry (in Spanish, PDF link)
Communication at the government's press service last May (in Spanish)

More about Wind Power on TreeHugger:
Wind Power posts archive
New York with Wind Turbines on Rooftops?
Wind Power Covers 40.8% of Spain's Total Demand
Other Green Stories from Peru at TreeHugger:
Peru posts archive
Water Contamination and Mining, Biggest Challenges for New Peruvian Environmental Ministry
Goldman Environmental Prize Winner Julio Cusurichi Palacios on Saving People and Land in the Peruvian Amazon

Tags: Peru | Renewable Energy | Wind Power

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