|Este artículo forma parte del Portal Energético de América Latina de Global Energy Monitor.|
Economy & demographics
Projected GDP growth
Peru's GDP is expected to grow more than 9% during 2021 as the country recovers from the economic devastation as a result of the COVID-19 pandemic. Economists predict the country will fully recover from the economic downturn during the pandemic due to government measures. However, a healthy economic recovery is at risk by long term slow downs of tourism, increases in poverty, and poor health outcomes related to COVID-19.
Projected population growth
Government energy plans
Fuel mix targets (fossil fuels vs renewables)
The national energy policy 2010-2040 (Propuesta de Política Energética de Estado Perú 2010-2040) aims to diversify the energy being used throughout Peru, with an emphasis on renewables and energy efficiency to meet the long term needs of the Peruvian people. The Peruvian government acknowledges the volatile prices of fossil fuels as another reason why there needs to be a shift towards renewables that are both high quality and reasonably priced. Long term plans have not been presented to the international community by the Peruvian government in recent years despite plans to reduce greenhouse gas emissions. As of 2019, 71.21% of Peru's energy comes from fossil fuels (43.61% Oil, 25.73% gas, 1.88% coal). Hydropower is the most prominent form of renewable energy with 24.24% of the 2019 energy production.
Greenhouse gas emissions targets
Due to the impacts of the COVID-19 pandemic and political turmoil, Peru has made multiple adjustments their original Paris Agreement 2030 target. Former President Martin Vizcarra created a commission to address climate change before his ousting in November 2020. The High Level Commission on Climate Change (CANCC), with the support of interim President Francisco Sagasti in December 2020, presented a plan to increase their target to a reduction of emissions by 40% by 2030 (compared to the original goal of 30%) if there was adequate financial support from the international community. Peru aims to be carbon neutral by 2050.
Government energy agencies
National energy ministry
MINEM (Ministerio de Energía y Minas) is the Peruvian government agency in charge of energy and mining activity. MINEM also includes IPEN (Instituto Peruano de Energía Nuclear) and INGEMMET (Instituto Geológico, Minero y Metalúrgico). According to the MINEM website, the agency aims to "promote the integral development of the activities inherent in the sector, regulating and / or supervising their compliance, ensuring the rational use of natural resources in harmony with the environment".
DGE (Dirección General de la Electricidad) is responsible for policies, regulations, expansion plans, distribution, and commercialization of electrical projects within Peru.
Mining permits in Peru are acquired through various agencies depending on the scale of the project. Generally, INGEMMET grants the mining concession titles for medium to large mining projects, while any small scale or artisanal projects receive permits through the DREM (Regional Directorate of Energy and Mines). In early 2021, efforts were made to streamline the mining permitting process.
Peru's Regulatory Agency for Investment in Energy and Mining (Osinergmin) oversees investment in the energy sector, specifically mines, electricity, natural gas, and fuel. Osinergmin was founded in 1996 and operates on the legal basis of Law No 26734: Law of the Supervisor and Regulatory Agency in Energy.
Peru's electricity sector is overseen by DGE (La Dirección General de Electricidad) a sub-agency of MINEM.
National oil company
Perupetro, Peru's national oil company, is involved in "responsible for promoting, negotiating, underwriting and monitoring contracts for exploration and exploitation of hydrocarbons in Peru" on behalf of the Peruvian state according to the agency website.
Leading energy companies
64 companies (5 state-run and 47 private) were responsible for electricity generation in 2018 and 23 companies for electrical distribution (11 state-run and 12 private). In total, 73% of the electrical market is private with 66% of the total electrical energy commercialized by private companies.
Electroperú S.A. (ELP) is one of the leading state-owned power generation companies in Peru, producing hyrdoenergy and thermal energy.
Luz del Sur, an important energy company primarily serving southeastern Peru, was sold to China Yangtze Power International in 2020.
Energy sector employment data
Peru's electricity sector is overseen by DGE (La Dirección General de Electricidad) a sub-agency of MINEM. The electrical system of Peru encompasses an isolated systems and the SEIN (Sistema Eléctrico Interconectado Nacional) an interconnected system which runs throughout the country. The SEIN covers approximately 85% of the country, with the remaining areas connected to electricity by smaller isolated systems.
In 2019, 15,223 MW was the installed capacity of the Peruvian electrical system. In 2018, 54 electrical companies were in operation; the main providers being Engie (20%), Kallpa (13%), Enel (11%) y Electroperú (7%).
In 2019, 54,432 GWh were produced by the Peruvian electrical system. As of 2019, 18 companies were responsible for electrical transmission throughout Peru across 28,000 kilometers of transmission lines; the main transmission companies are Red de Energía del Perú and Transmantaro with a total of 35% of the market share.
In 2018, 46% of Peruvian electricity was used by the transport section, with an additional 27% used by the mining & industrial sector. Residential, commercial, and public use account for 25% of electric usage. Due to mining activity, Moquegua consumes more than seven times the national average of electricity (as of 2018).
As of June 2019, 96% of Peruvians had access to electricity. As of 2020, Peruvian per capita electricity use was 1,574 kWh annually, with the entire country using a total of 51.88TWh during 2020. DGER (Dirección General de Electrificación Rural) is a sub-agency of MINEM focused on raising rural access to reliable electricity to 98% by 2023. The electrification efforts in rural areas are supported by national law: Ley de electrificación rural y de localidades aisladas de fronteras-No.27744.
Coal in Peru
Peru ranked 54th in the world for coal production in 2016 with a total of 493,173.49 tons .
Peru ranked 70th in the world for coal consumption in 2016 with a total of 1,267,657 tons .
Imports & source countries
In 2016, Peru was importing nearly 40% of the total coal consumed.
Proposed new sources & projects
Peru is moving away from coal and taking steps to completely tear down old coal fired power plants in order to better comply with environmental standards.
Oil & Natural Gas in Peru
Peru's oil development projects are concentrated in the southern portion of the country, but there are oil operations in the Peruvian Amazon with pipelines leading to the northern coast. More than 95% of natural gas operations occur in the Selva Sur geographic zone. As of 2021, more than 70% of the Peruvian Amazon has been opened to oil and natural gas companies. Peru became the first LNG exporter in South America in 2010 after the opening of Melchorita LNG plant.
As of 2019, Peru's energy consumption sources are made up of 43.61% oil and 25.73% natural gas.
Imports & source countries
The majority of Peru's crude oil imports come from Ecuador. Peru has held various talks with Bolivia regarding the importation of LNG. The Bolivia Peru Gas Pipeline pipeline could be completed as early as 2022.
Proposed new sources & projects
Companies are consistently proposing new projects which must go through an exploratory phase before they can move forward. As of August 2020, six projects were suspended due to social concerns and 17 for other concerns.
Transportadora de Gas del Peru (TGP) is responsible for the transport of oil and natural gas within and out of Peru. Their system is formed by two sets of ducts: one for natural gas and the other for natural gas liquids. Gas pipelines in Peru frequently have leaks due to difficult climatic conditions; notably the pipelines in Camisea fields owned by Argentine Pluspetrol have had many burst and spills since their initial construction in 2004.
Renewable Energy in Peru
As of May 2019, renewable energy produced within Peru came from the following sources: Hydroelectric (43%), wind (40%), biomass (11.6%), and solar produced the remaining 5%. Peru aims to triple renewable energy production between 2019-2030; in 2019 the country was maintained approximately 15,000 MW of energy generation capacity from renewables alone. Renewable energy in Peru is slated to grow by approximately 6% between 2021-2026.
Iron & Steel in Peru
SIDERPERU is the oldest and largest iron & steel company in Peru, it's parent company is Gerdau a Brazilian ironworks company. The United States, Colombia, and Belgium are notable purchasers of Peruvian iron and steel. Investment in new iron ore mines are planned for the Arequipa region.
Oil and gas explorations contribute to deforestation, displacement, and soil & water pollution in the Amazonian jungle. Since explorations and pumping began companies have dumped waste products from mining activities directly into Peruvian rivers and forests. Between 2000-2019 there were 474 oil spills in the Peruvian Amazon, 65% of which occurred due to corroded pipelines and operational failures. Environmental monitors are usually the first to report spills to the regulatory agencies. Oil spills in the Peruvian Amazon have been devastating indigenous communities principally because the spills contaminate food and water supplies as well as crops. Additionally, negative health outcomes in oil spill areas occur in a great number and protests occur for oil & gas companies to pay for healthcare costs. Despite orders to stop production following a spill, some companies continue to pump oil and use faulty pipelines. Indigenous groups have protested against oil & gas companies for years. Due to Peru's geographic location, pipelines are also at risk due to seismic activity. Billions of dollars are needed in order to adequately clean up contamination from oil spills in Peru.
Mining, particularly gold mining, has led to extensive water pollution in Peru. Deglaciation due to climate change could limit Peru's ability to use renewable hydro powered plants in the future.
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