The move will also look to launch 600MW of wind energy in 2026, plus "several other" solar PV and battery energy storage system (BESS) projects. The company already has around 2,237MW of installed capacity in the country, including technologies such as pumped hydro, natural gas and BESS, primarily t Contact online >>
The move will also look to launch 600MW of wind energy in 2026, plus "several other" solar PV and battery energy storage system (BESS) projects. The company already has around 2,237MW of installed capacity in the country, including technologies such as pumped hydro, natural gas and BESS, primarily through its wholly-owned subsidiary Kallpa.
Inkia also confirmed that it will expand the generation capacity of its ''Sunny'' solar PV power plant in southern Peru from 228MW to 338MW after receiving environmental approval. The plant is expected to be operational by the second half of 2025. Construction is currently underway.
The expansion of this solar PV power plant could make it the largest in Peru, trumping Zelestra’s – formerly known as Solarpack – 300MW San Martin solar project, the previously claimed largest project. Located in the southern province of Arequipa, San Martin entered construction earlier this year and is expected to be fully operational in the second quarter of 2025.
The power company also said it is set to begin construction of two adjacent solar PV projects by signing energy and International Renewable Energy Certificates (I-REC) off-take agreements for these developments. Inkia did not name the developments.
“We believe that Inkia’s balanced portfolio, along with its investment grade rating, makes the company the top choice for clients in terms of reliability, both in energy and financial support," Twembeke added.
In a recent conversation withPV Tech Premium, developer Verano Energy''s CEO Dylan Rudley highlighted Peru''s PV potential as "under the radar". In January 2024, the Chile-based developer submitted anenvironmental impact assessment for a 5.85GW solar PV projectto power a green ammonia facility.
Once fully operational, the plant is expected to have a capacity of 1.65 million tons per year, with the first phase to commission 1.5GW of solar PV and over 420,000 tonnes of green ammonia annually.
A Renewables Readiness Assessment (RRA) identifies the actions needed to overcome a country’s barriers to renewable energy deployment, with IRENA providing technical support and expertise to facilitate consultations among different national stakeholders.
Off-grid renewables can be crucial to address the remaining energy access challenges in Peru’s rural areas. IRENA can assist in the planning and implementation of technically and financially sustainable projects.
While the RRA process helps to shape appropriate policy and regulatory choices, each country determines which renewable energy sources and technologies are relevant and consistent with national priorities
Technologically, battery capabilities have improved; logistically, the large amount of invested capital and human ingenuity during the past decade has helped to advance mining, refining, manufacturing and deploying capabilities for the energy storage sector; and regulatorily, governments around the world have been passing legislation to make battery energy storage systems (BESS) more economically viable.
BESS are being built for a variety of use cases, from microgrids that provide energy resilience for hospitals to home solar outfits, to large-scale operations that enable solar, wind and other renewable sources to more efficaciously transmit their energy to end users.
Yet, despite the significant progress in the sector, there is still a long way to go if the ambitious climate targets of many countries around the world are to be reached. "Globally, energy storage capacity needs to increase by a factor of at least 40 times by 2030," says Saji Anantakrishnan, head of infrastructure, Australia and Asia, with PATRIZIA.
The Energy Sector Management Assistance Program, a coalition governed by representatives from an assortment of nations and chaired by the senior director of the World Bank''s Energy and Extractives Practice Group, estimates countries will collectively have to add 120 gigawatts of grid-scale battery storage each year by 2030 for the world to meet its net-zero goals. The amount of grid-scale battery storage added around the globe in 2022 was 11.1 gigawatts.
The increase in activity in the United States'' BESS sector since the IRA passed in 2022 has had rippling effects in the broader global market. Anantakrishnan says, "From a global perspective, the American Inflation Reduction Act created this hoovering effect of global private capital because those incentives are material, and a lot of institutions are viewing American projects as offering a better risk/reward payoff."
That doesn''t mean opportunities don''t exist in other markets. Anantakrishnan says countries that have had a rapid uptake of renewables but have not had a similar concentration of capital directed toward transmission are well positioned for BESS investment. Deploying BESS projects in areas with high renewable capacity, but that also experience high curtailment, allows developers to provide a tool that more efficiently captures and distributes that energy, all while being remunerative.
Anantakrishnan points to Japan as one country with significant opportunity for BESS investment. "Japan is obviously a big target," he says, "because post-Fukushima there was a very generous tariff, which led to a significant development and build out of renewables. Yet, the country has not seen a similar build-out of battery storage systems to support its grid infrastructure."
Many industries rely on energy resilience, something that is starkly clear in countries that experience regular intermittent energy outages. Batteries offer such customers a safeguard for when the grid trips unexpectedly. It''s also worth mentioning that a battery as backup, rather than a diesel generator set, facilitates sustainable outcomes for the surrounding community, according to Anantakrishnan.
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