31 May '12, 8am

Peru, South American Nations Turn to Reverse Auctions to Accelerate Renewable Energy Development

Peru, South American Nations Turn to Reverse Auctions to Accelerate Renewable Energy Development

Joining a growing number of developing countries turning to reverse auctions as the preferred means of meeting their renewable energy development goals, Peru conducted its first renewable energy auction tender in 2010, giving local private sector project developers and banks the opportunity to participate in new investment opportunities. In the 2010 auction, Peru’s Ministry of Energy and Mines , working through regulatory supervisor OSINERGMIN , awarded contracts to install a total 411.7 MW of clean, renewable energy: three wind energy (142 MW), four solar energy (80 MW), two biomass (27.4 MW), and 17 small-scale hydro power projects (162 MW). Another contract for an additional small-scale hydro power project of 18 MW was awarded in a second round auction later that year.

Full article: http://cleantechnica.com/2012/05/31/peru-south-american-n...

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