Peruvian Energy and Mines Minister Gonzalo Tamayo on Thursday highlighted the country's energy investment opportunities at Growing Economies: Latin America Energy Forum, taking place in Washington D.C.
The event convenes Latin American public and private sector representatives, in order to identify the latest energy investment opportunities in the region.
In this sense, Tamayo's participation was aimed at further expanding the Inca nation's energy market.
Renewable technologies
As part of his presentation, the government official highlighted National Interconnected Electrical System's (SEIN) potential for hydraulic and natural gas generation.
Likewise, he referred to government efforts in promoting the entry of renewable, non-conventional technologies.
"Peru currently relies on a 51% reserve margin, which guarantees continuity of supply in the event of failures at SEIN," he affirmed.
Energy project portfolio
On the other hand, Tamayo revealed the country's energy project portfolio currently stands at US$5 billion. Said ventures are to be developed thru 2021.
"Today, hydroelectric power production has dropped to 57% of the total [output] due to the entry of Camisea natural gas units," the Minister explained.
"These account for 39% of national production, whereas non-conventional renewable energies make up 3%," he added.
Rural electricity coverage
Lastly, Tamayo stressed the Energy and Mines Ministry plans to reach 99.1% electricity coverage in rural areas by 2021.
Such endeavor will require an investment of S/3.789 billion (about US$1.15 billion) and will benefit close to 3 million Peruvians.
Growing Economies: Latin America Energy Forum currently gathers Energy Ministers from Peru, Guatemala and Mexico, as well as energy companies' senior executives, regulatory bodies and businesspersons from Latin and North America.
The event runs thru March 10.
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