Peru extends renewable energy tax break to 2030

Peru’s congress approved a government bill to extend a tax benefit for renewable energy.

The initiative consists of accelerated depreciation to promote investment in power generation using hydro and other renewable resources and was first approved in 2008 through a decree.

The incentive will now run through December 31, 2030. BNamericas reported on the bill’s submission in January.

In recent days, lawmakers also approved a bill – also introduced by the executive – to modify law 28832 which governs the guarantee of efficient power generation development.

The change allows power distributors to procure capacity and energy independently in supply tenders.