New Energy market report from Business Monitor International: "Peru Power Report Q2 2013"
Boston, MA -- (SBWIRE) -- 06/05/2013 -- BMI View: In the face of rising energy consumption, the Peruvian government has taken a number of steps to ensure the country has adequate power generation capabilities, with a number of hydroelectric plants to come online between 2015 and 2016. However, there are still risks to our outlook for Peru's power sector, including a high level of regional differentiation in power generating capacity and the potential for local opposition to cause delays to hydroelectric projects.
Key trends and developments in the Peruvian electricity market:
- Between 2013 and 2017, we forecast that electricity consumption in Peru will grow by an annual average of 5.8%, driven primarily by the country's rapidly expanding mining sector. . To ensure that production is sufficient to keep up with increasing demand, the government announced plans in March 2012 to increase thermal and hydroelectric power generation, bringing online an additional 4.3 gigawatts (GW) by 2016.
- While the additional forecasted generation capacity should suffice to meet growing consumption patterns, Peru's power sector faces a number of shortcomings. Firstly, we note that power projects often face considerable hostility from locals. Secondly, we note that while the country as a whole is not set to face significant generation shortages, there is a great deal of regional differentiation in power production capacity.
- Abengoa has been awarded a concession for a transmission line and associated substations by ProInversion. The concession is for a 30-year period and covers the 220kv, 354km Machupicchu- Quencoro-Onocora-Tintaya line. Abengoa has secured the concession contract with investment and annual O&M offers worth US$114mn and US$2.5mn respectively. The project aims to enhance transport reliability and stabilise the grid in the southeast of the country. Abengoa is required to complete the work in 38 months once the contract is signed.
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