Peru has around 4 GW of solar and wind projects under development. The Ministry of Energy and Mines (MINEM) is in charge of the energy sector, through three main Directorates: the General Directorate of Hydrocarbons (DGH), the General Directorate of Electricity (DGE), and the General Directorate of Mines (DGM).
Gas production has grown by 7%/year since 2020. Motor fuel prices are among the highest in South America. Electricity prices are quite stable and in line with the regional average. Total energy consumption increased by 7% in 2023. Oil and gas cover 73% of this energy consumption. Peru has around 4 GW of solar and wind projects under development.
Proven oil reserves stand at 117 Mt and gas reserves at 237 bcm (end of 2023). Coal reserves stand at 102 Mt. Peru has important hydroelectric resources, with an estimated potential of 70 GW; its wind potential is estimated at 77 GW. The reference price of natural gas is Camisea.
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Peru Renewable Energy Storage & Batteries Market valued at USD 1.2 Bn, driven by renewable demand, government incentives, and tech advancements for sustainable energy.
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