“Welcome to the region with the highest renewable energy share in the world (electricity sector).” – Edwin Quintanilla Acosta, Peruvian Vice Minister of Energy at the launch event for the Geothermal Development Facility for Latin America
A new programme designed to support the development of geothermal energy in the Latin American region was launched today on the sidelines of the UN Climate Change Conference in Lima, Peru. Peru’s involvement in the Geothermal Development Facility is part of its plan to achieve 60% of its electricity from renewable sources by 2025.
Earlier this year, the Peruvian Government and IRENA cooperated on a Renewables Readiness Assessment (RRA) for the country. The assessment identifies actions needed to further expand the share of renewable energy in Peru, as well as how to better complement rural electrification and improve on-going efforts to support the development of bio fuel in the country.
The RRA determines that Peru’s vast, untapped, renewable energy resources could play a key role in securing the necessary energy to fuel economic expansion while preserving the environment. It also highlights the need to prepare for renewable energy integration in transmission-grid expansion plans, particularly so that variable sources like solar and wind power can meet future electricity demand.
While the RRA process helps shape appropriate policy and regulatory choices, each country determines which renewable energy sources and technologies are relevant and consistent with national priorities.
More information on the IRENA RRA series.