Solarpack secures extension for US$180mn Peru project

Peru’s energy and mines ministry has granted Joya Solar an extension for the US$180mn, 252MW San Martín Solar project.

The Solarpack-controlled company secured additional time after submitting a guaranteed work execution schedule following a ministry notice that its definitive concession could be terminated.

According to the original timetable, work was to have begun in January 2023 and completed in December that year.

The ministry said that a January 2024 report from energy and mining investment regulator Osinergmin highlighted that Joya Solar was drafting studies.

Osinergmin information shows that construction of access roads and earth movement began in February. The start of commercial operations is now scheduled for December 2025.

In April, Natixis Corporate & Investment Banking announced the closure of financing for the solar park in Arequipa region.

In a related development, the ministry approved reference terms to draft the semi-detailed environmental impact study for Naupac Generación Renovable Perú’s 114MW Kuarachi solar project.

The ministry also received a request from Energía Renovable La Joya to review a modification to the approved environmental impact declaration of the 385MW Illa solar project, which would increase capacity to 396MW.