Andes Solar, a Chilean renewable energy developer, has recently announced a significant milestone in its expansion efforts, signing a contract with the Peruvian electricity distributor CVC Energía for its inaugural photovoltaic energy project in Peru. Operating in the Peruvian market for over a year, Andes Solar has been actively involved in the development of the Villacurí project, boasting a capacity of 13 megawatts peak (MWp) set to be situated in the Salas district, within the province of Ica.
Set to commence in the latter half of this year, the Villacurí project will involve a series of tasks, including engineering work, procurement of specific materials, construction of the photovoltaic plant, and the provision of operation and maintenance services (O&M), as outlined by Martín Valenzuela, the Business and International Area Manager of Andes Solar.
“This milestone solidifies our expansion efforts into Peru, which began several years ago. Peru holds immense potential for the development of Non-Conventional Renewable Energies (NCRE), and this project with CVC Energía will spearhead the growth and advancement we anticipate in clean energy generation,” stated the director of the Chilean firm.
Peru’s appeal for renewable energy projects has been highlighted by its ranking in EY’s Renewable Energy Country Attractiveness Index (RECAI), placing it as the fifth most attractive territory in Latin America for such investments, following Chile, Brazil, Argentina, and Mexico. This positioning has remained consistent compared to the previous report issued in June 2023.
As of December 2023, Peru’s Ministry of Energy and Mines (Minem) has outlined a project portfolio comprising 31 power plants to be constructed, with nine of these projects utilizing wind and solar energy sources, according to EY. These initiatives are slated for completion by 2028, with an estimated investment exceeding US$5 billion.