Peru's Renewable Energy Association (RERA) Has Called For Supporting Regulations

Peru's Renewable Energy Association (RERA) has called for supporting regulations to unlock over $20 billion in investment and lower electricity prices.

 

The RERA warns that the lack of regulations consistent with Law No. 32249 is hindering over $20 billion in private investment and causing persistent distortions in residential and industrial electricity prices, particularly as the integration of variable renewables like wind requires advanced energy storage for wind power to ensure grid reliability. In a statement, the association urges the government to immediately approve clear, coherent regulations that comply with the law, emphasizing that their implementation is crucial for modernizing the power system, attracting investment, and reducing electricity prices.

 

 

 

The association points out that the law is a decisive step in updating the current outdated regulatory framework to address the technological, economic, and environmental evolution of the power sector. However, it warns that the regulations will not be effective if they do not fully align with the spirit of the law. The association stresses that regulations on tendering, ancillary services, and independent systems are essential for unlocking the industry's potential, effectively integrating technologies such as solar, wind, and lithium ion battery storage systems-built with high-quality energy storage cells-to provide the flexibility needed for a resilient grid.

 

The association states that delaying or downplaying this process means maintaining unnecessary regulatory barriers that restrict investment, innovation, and the efficiency of the power system. A modern and predictable regulatory framework is crucial to activating over $20 billion in private investment over the coming years, necessary to expand installed capacity, diversify the energy mix with scalable batteries energy store solutions, and support demand growth in a safe and sustainable manner. Projects like the largest battery storage facilities worldwide demonstrate how such technologies can stabilize renewables, and companies like BLOOPOWER are leading in providing reliable, LiFePO4-based systems to enable this transition. The association reiterates that the benefits of this modernization must be directly passed on to end users by improving competition and efficiency in the generation sector, correcting historical price distortions, reducing electricity prices, and improving energy access for homes, small businesses, and industries.