Peru's Minister Highlights Solar, Wind Potential

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Written by Amir Richani for IIR News Intelligence (Sugar Land, Texas)

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Summary

Peru has harnessed only 5% of its total solar, wind and hydropower potential, according to a recent statement by the Minister of Energy and Mines.

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Untapped Potential

Peru's Minister of Energy and Mines Guillermo Shinno said during the 16th APEC Energy Ministers meeting in Beijing that Peru has technical renewable energy potential of more than 937 gigawatts (GW) of solar power, 20 GW of wind, and 69 GW of hydroelectric plants. He said only 5% of that potential has been harnessed.

Shinno's remarks emerge as the new Peruvian government seeks foreign investments to develop its domestic industries, including the power sector. The nation's vast renewable resources are especially attractive for energy-intensive industries such as the mining sector, one of Peru's key economic drivers, as companies seek to decarbonize their operations by integrating renewable energy.

"We have carried out the most significant regulatory transformation of our electricity sector in the last two decades to ensure the efficient development of power generation; furthermore, the technical regulations for the Green Hydrogen Promotion Law are entering a transparent public consultation phase involving companies, experts, and civil society, and we have investor-oriented renewable energy zoning maps available," said Shinno.

As of July 2026, Peru's national interconnected electric system (SEIN) had a total power generation capacity of 14,492 megawatts (MW), dominated by thermoelectric power generation with 7,032 MW, followed by hydroelectric power at 5,343 MW. Wind and Solar energy each accounted for just over 1,000 MW of the total capacity.

Wind & Solar Expansions

However, wind and solar power capacity is forecasted to expand in the near term. Industrial Info Resources data show 127 solar projects and 71 wind projects in various stages of progress in Peru, with combined projected investments of US$33.51 billion. Together, the 198 wind and solar projects tracked have a total capacity of almost 33,000 MW. However, not all these projects will reach an operational stage.

Osinergmin, the institution surpervising the energy and mining sector, estimates solar and wind capacity will reach 20,386 MW by 2028, while Industrial Info Resources is tracking 138 projects with a combined capacity of 21,145 MW that could be completed by the end of 2028.

By 2030, Osinergmin forecasts that total solar and wind capacity could grow to 24,618 MW if currently approved projects materilize.

In 2025, Peru modified its power generation and electricity rules allowing distributors to contract energy and capacity separately or jointly and introduce supply auctions in order to increase competition across the different power generation technologies and diversify the electricity mix.

Meanwhile, Keiko Fujimori, Peru's new President, has also backed the transition to renewable technologies such as wind and solar by pledging to increase non-conventional renewable sources participation in the national grid to 20% of the total between 2026 and 2031. In 2025, wind and solar energy accounted for 10% of Peru's total power supply, according to Osinergmin.

Key Takeaways

• Peru's Energy Minister said that Peru's technical renewable potential exceeds 937 GW of solar power, 20 GW of wind power, and 69 GW of hydropower.
• Solar and wind power accounted for 14.6% of the SEIN total installed capacity in July.
• Industrial Info Resources is tracking 198 solar and wind projects in Peru, representing investments of US$33.51 billion.

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About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, Industrial Info Resources is tracking over 250,000 current and future projects worth $30.2 trillion (USD).