The Italian group dominated the tender run by Peru’s energy regulator Osinergim, which this week awarded power deals for a total of 430MW of capacity across 13 projects.
Osinergim said the average prices secured – $37.8/MWh for wind and $48/MWh for PV – “are the lowest in recent years for Latin America”.
The final tender of 2015 held in Brazil saw that country contract wind at an average price equivalent to $51/MWh at current exchange rates, and PV at $74.7/MWh.
Other winners included GDF Suez/Engie of France with 40MW (AC) of solar, and Spanish venture-capital fund Daruan with 36MW of wind.
EGP said it will spend about $400m to build its wind and solar plants plus a 20MW hydro facility, which will all enter service in 2018 and enjoy 20-year power supply deals.
All the EGP PV and wind capacity is accounted for by two major projects.
The 180MW Rubi solar project will be sited in Moquegua and the 126MW Nazca wind farm in Marcona, both in southern Peru.
Peru – said by the Italian group to have “vast renewable potential which is still largely unexploited” – wants to boost clean energy to account for 5% of supply by 2018, up from 2% now.
EGP said it will "become by 2018 the main renewable player in Peru and the only company operating plants of three different renewable technologies in the country".
CEO Francesco Venturini added: “These results illustrate how renewable energy can be competitive with traditional generation even in geographies where its development is still in the early stages.”
The Peruvian success continues EGP’s ambitious push into key Latin American markets, where it has already made inroads into the renewables sectors of Brazil and Chile.
EGP is currently in the latter stages of being taken back into full ownership by Enel, its utility parent group, which has pledged that renewables will form the basis of its future growth.
