presented to a global audience the potential offered by Peru to attract investments in renewable energies and capitalize on hydrogen as a resource that will contribute to strengthening energy transition and reducing carbon emissions, within the framework of the Net Zero 2050 scenario.
The Peruvian government official was invited as a main speaker within the framework of the "Latam-Japan Hydrogen Workshop 2024" in Tokyo.
This workshop sees the participation of State ministers, officials, and diplomatic representatives from several Latin American countries.
At this event, the Cabinet member underscored that Peru offers great strengths for mining-energy sector investments.
He highlighted the fact that Peru produces 8 of the 17 critical minerals required for energy transition.
Similarly, the South American country currently fosters a regulatory framework for green hydrogen promotion, in addition to relying on a strategic location that makes it attractive as a commercial destination in the Pacific basin.
"To date, we have over 25,477 megawatts in renewable energy projects managed by investors who submitted their pre-operational studies to the Committee for Economic Operation of the National Interconnected System (COES)," he explained.
Mucho added that, in terms of photovoltaic (solar energy) projects, there is a generation potential of 12,449 megawatts, with ventures in Piura, Cajamarca, Lambayeque, La Libertad, and Ica regions.
As for wind sources, the potential is 9,703 megawatts, with projects in Arequipa, Moquegua, Puno, and Tacna regions.
Regarding Peru's potential for hydrogen development, Minister Mucho indicated that there is already a National Strategy for Green Hydrogen in force since the beginning of President Dina Boluarte's term in office.
He added that a Multisectoral Working Group was established in April 2023 to contribute to the valorization of this non-polluting resource.
Supported by the Green Hydrogen-promoting Law (Law No. 31992) published in March 2024, Peru seeks to attract investments in hydrogen to obtain new energy sources for transportation, fertilizer production, oil refining, the steel industry, among other economic activities.
The "Latam-Japan Hydrogen Workshop 2024," which takes place from June 27 to July 4, will enable attendees to learn about the different perspectives of countries, international organizations, and business leaders on hydrogen development in the production processes of manufacturing, cement, and steel industries, among others.
Minister Mucho's participation is of importance for this sector, since it constitutes a platform that allows for learning and exploring new opportunities and various options on the development of hydrogen, hydrogen supply chain technologies, and hydrogen applications.