Boston, MA -- (ReleaseWire) -- 12/06/2012 -- BMI's power service is now focussing chiefly on thermal sources, hydropower and nuclear electricity, with developments pertinent to the green segment to be discussed in-depth in our renewables service. However, we continue to provide a detailed overview of the dynamics affecting the power sector. In the face of rising energy consumption, the Peruvian government has taken a number of steps to ensure the country has adequate power generation capabilities. At least three new thermal power plants are expected to become operational in the coming quarters and a number of hydroelectric plants will come online between 2015 and 2016. That said, we highlight that there are still risks to our more optimistic outlook for the sector, including a high level of regional differentiation in power generating capacity and the potential for local opposition to cause delays to hydroelectric projects.
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Key trends and developments in the Ukrainian electricity market
- Between 2012 and 2016, we forecast that electricity consumption in Peru will grow by a steady 5.3%, driven primarily by the country's rapidly expanding mining sector. In order to ensure that production is sufficient to keep up with increasing demand, the government announced plans in March 2012 to increase thermal and hydroelectric power generation, bringing online an additional 4.3 gigawatts (GW) by 2016.
- In the short term, additional thermal power stations will drive the increase in generational capacity, with two plants scheduled to be operational by end-2012 and a third, Santa Domingo de los Olleros, expected to be completed by Q313. Meanwhile, toward the latter part of our forecast period, a number of large-scale hydroelectric projects are expected to be completed. Finally, while we expect non-hydroelectric renewable power generation capacity to grow robustly, we highlight that it is coming up from a very low base, accounting for only 1.5% of total power generation in 2011
- While the additional forecasted generation capacity should suffice to meet growing consumption patterns, Peru's power sector still faces a number of shortcomings. Firstly, we note that power projects often face considerable hostility from locals. Secondly, we note that while the country as a whole is not set to face significant generation shortages, there is a great deal of regional differentiation in power production capacity.
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