Peru's ProInversión Promotes Over $7 Billion in Projects to Brazilian Companies

en.Wedoany.com Reported - On August 31, Peru's private investment promotion agency ProInversión held talks with the Brazil-Peru Chamber of Commerce (CAMBRAPER) and a delegation of Brazilian energy companies, presenting investment opportunities in renewable energy, power transmission, and irrigation in Peru. The meeting highlighted seven energy and irrigation projects with a combined investment exceeding $7 billion, and proposed cooperation on pilot projects, technological innovation, and project development in renewable energy.

The projects presented include Groups 2 and 3 of the 2025–2034 Transmission Plan, the Las Joyas photovoltaic plant, and four large-scale irrigation projects: the new Olmos concession, Chavimochic Phase III, Chinecas, and Majes Siguas II. ProInversión also introduced to Brazilian companies the implementation modalities for project investment, development, and concessions in Peru through Public-Private Partnerships (PPP) and Asset Projects (PA).

Among these, the Las Joyas photovoltaic plant is located in the Arequipa region, with an estimated investment of $252 million as previously published by ProInversión. According to data from the electricity regulator, the project plans an installed capacity of 352 MW, with 559,440 monocrystalline modules of 715Wp, 108 inverters, and 54 substation units, connected to the power grid via the Las Joyas substation.

Regarding transmission projects, Group 2 includes the 500kV Colectora–Bicentenario–Chilca line, the 220kV Tintaya Nueva–Nueva San Gabán line, the 220kV Nueva San Gabán–Puerto Maldonado line, and the 138kV San Román–Yocara–Maravilla line, along with associated expansions and substation works. Group 3 includes transmission lines such as Nueva Virú–Trujillo Sur, Miguel Grau–Sullana, and Miguel Grau–Chulucanas, as well as the Nueva Moche and Antuquito Este substations and associated lines. ProInversión noted that it has previously awarded a cumulative total of 55 transmission lines.

The irrigation projects presented to Brazilian companies are also at various stages of development. The new Olmos concession launched its investment promotion process in July, with a reference investment of $400 million. The concession scope includes studies, engineering construction, and long-term operation and maintenance, with plans to raise the Limón Dam from 43 meters to 85 meters, implement sediment management, river channel improvements, upgrades to water conveyance facilities, and the relocation of approximately 8 kilometers of the Northern Peru Oil Pipeline, with a planned operating period of 50 years.

Chavimochic Phase III completed updates to the engineering design, costs, and timelines for the remaining major hydraulic works at the end of July. The current scope includes a 129.43 km Moche–Chicama–Urricape main canal, over 12.9 km of tunnels, 55 water intake structures, the Lateral 0 Coscomba branch canal, fine sediment settling facilities with a design capacity of 88 cubic meters per second, and a SCADA automation system covering all three phases.

Majes Siguas II is currently in the project structuring stage, with an investment of $850 million listed in ProInversión's project documentation, to be implemented under a PPP model with government co-financing and a contract term of 20 years. The Chinecas project is also in early-stage development, involving water resource regulation of the Santa River and expansion of the irrigation system.

During the meeting, ProInversión also presented to Brazilian companies the special early VAT refund regime and exchanged investment and project participation proposals for the aforementioned projects with the delegation. Representatives of Brazilian companies expressed interest in learning more about Peru's relevant investment projects.