MINEM: 20,000 MW will enter the electricity market if the Law promoting renewable energies is approved

The following is a machine translation of a Minem release

In order to accelerate the energy transition in Peru, the Minister of Energy and Mines, Rómulo Mucho, said that the amendment to Law No. 28832 is in the process of being approved in the Congress of the Republic, which will eliminate barriers to the entry of non-conventional renewable energies into the national energy generation market.

"There is currently a portfolio of projects in our country that represent around 20,000 megawatts (MW), which with this Law would accelerate their entry into the country's electricity market for the benefit of the population and the development of the regions," he said.

At the closing of the workshop “Exchange of best practices for the development of green and low-carbon hydrogen roadmaps in the Asia-Pacific region”, he explained that our country, in line with the member economies of the Asia Pacific Economic Cooperation Forum (APEC), has approved the Green Hydrogen Promotion Law.

This regulation will allow for greater use of the high potential of renewable energies and their value chain, making the production of this energy vector viable in Peru, and is currently in the regulatory stage.

“Let us remember the advantage that Peru has of a great solar and wind potential, technologies that are increasingly lowering their costs, allowing the production of more competitive green hydrogen,” said the head of the Ministry of Energy and Mines (MINEM), during the closing of the Workshop developed by the APEC Energy Working Group.

At this workshop, it was possible to learn about the experience of other countries such as the United States, China, Thailand, Japan, Korea, among others, in relation to their roadmaps, facilitation strategies and policies that they have been implementing for the development of green hydrogen.

Minister Rómulo Mucho noted that the workshop “marked an important milestone for APEC economies, as it marks the beginning of the path we will take together to achieve the proposed objectives and implement the policy guide for the development of green and low-emission hydrogen that will allow us to achieve the common strategic goals in the APEC region,” he stressed.

Finally, the head of MINEM called on APEC members to work together on technology transfer and capacity building to address the cost challenge of making this energy vector competitive, for the benefit of the population and their economies.