Peru is poised to invest $11.6 billion in renewable energy projects, primarily solar and wind, as announced during the Green Hydrogen and Renewable Energies Congress at Expomina 2024.
The initiatives aim to meet Peru's commitment to reduce greenhouse gas emissions by 30% by 2030. However, current regulations hinder new market entrants and restrict the adoption of cost-effective, clean technologies.
Increased electricity tariffs are a concern, prompting calls for regulatory changes to foster competition and equitable tax incentives for renewable projects.
Hydrogen, identified as a strategic resource, is crucial for decarbonizing sectors such as mining, agriculture, and transport. The government’s commitment, highlighted by the recent Green Hydrogen Promotion Law, reflects a strategic vision for a cleaner, sustainable energy future.