The investment will take place between 2018 and 2020.
Francesco Starace, the CEO of Enel said that the company will continue to bet on developing projects in Peru, since the country has one of the most promising markets in terms of renewable energy in the world. He believes that renewable energy will replace thermal energy very soon, starting in Peru, due to the potential it has in terms of water, solar, wind and geothermal energy sources.
Starace also stated that thermal energies are not economically comparable to renewable energies. The latter generate more profit and mentioned that South America is slowly modifying its market to favor these kinds of sources which are eco-friendlier and more competitive.
According to information from the company, Peru has the second lowest rate of electrical supply interruptions in Latin America, beating Brazil, Colombia, and Argentina. Only Chile has a lower rate, but Peru is looking to perform even better in 2020. Enel is looking to reduce interrupted minutes by 17% in the period between 2017 and 2020.
Currently, there is an oversupply of energy in the country that has generated a depression of energy sales prices and thus has affected the electricity sector both at the level of generation and distribution. Bearing this in mind, for several years, Enel’s strategy has become even more competitive, since, it is a matter of time until Peruvian legislation begins to open up to the non-conventional renewable energy market.
(Cover Photo Flickr)
Now that you're here:
We're asking you, our reader, to make a contribution in support of our digital guide in order to keep informing, updating and inspiring people to visit Peru. Why now? In our near 20-year journey as the leading English-language source on travel in Peru, we've had our fair share of ups and downs-but nothing quite like the challenges brought forth in the first quarter of 2020.
By adapting to the changing face of the tourism and travel industry (on both local and international levels), we have no doubt we will come out stronger-especially with the support of our community. Because you will travel again, and we will be ready to show you the best of Peru.
Your financial support means we can keep sharing the best of Peru through high-quality stories, videos and insights provided by our dedicated team of contributors and editors based in Peru. And of course, We are here to answer your questions and help whenever you need us.
As well, it makes possible our commitment to support local and small businesses that make your visit an unforgettable one. Your support will help the people working in these industries get back on their feet once the world allows us to make our dream of enjoying everything Peru has to offer a reality again-from its mouthwatering gastronomy, thriving Amazon and archaeological wonders such as Machu Picchu.
Together, we will find a way through this. As a member of our community, your contribution, however big or small, is valuable.