- This figure comes from the latest report "An Energy Transition Roadmap for an emissions-free Peru 2030-2050," researched by Deloitte and commissioned by Enel Peru, which proposes measures to help reduce emissions by 2050.
- More than 470 people from 130 organizations participated in the study.
- The report finds that Peru could generate net revenue of more than 128.3 billion dollars by reducing its carbon emissions.
Lima, September 13, 2022 - Some 81% of Peru's power generation could come from renewable sources by 2030, of which 35% would be from solar and wind plants, according to the report "An Energy Transition Roadmap for an emissions-free Peru 2030-2050" by Deloitte and commissioned by Enel Peru. Such a switch would require investments of more than US$10 billion by 2050, according to the study.
The updated report encompassed data that emerged from two workshops comprising of three working groups, which were attended by more than 470 people from 130 organizations and representing multiple sectors that included: government, hydrocarbons, electric power, mining, retail, industry, transportation and services, as well as NGOs, associations and academia. All of the sectors are keen to share their technical knowledge and insight in order to speed up the energy transition
Click here to access the updated version of the study: https://bit.ly/3RZ7Bxi
The new study finds that Peru could achieve a 51% drop in emissions by 2030 if it implements a series of proposed measures. In addition, it indicates that decarbonization would lead to the creation of more than 933,000 jobs by 2030 and net income of US$128.3 billion by 2050.
Outlining a roadmap for action, the report recommends continuing work in three main areas to reduce emissions: i) energy efficiency and electrification of end uses; ii) transformation to renewable sources in the energy grid, together with the deployment of the appropriate infrastructure; and iii) providing incentives for sustainable practices.
Electrification of transportation in Peru could lead to a 38% reduction in greenhouse gas (GHG) emissions in the sector by 2050, with electric mobility making up 11% of public and private transport by 2030.
Exporting green hydrogen
The "Road Map" sees Peru's industrial sector becoming the first to use green hydrogen and predicts that the country could begin to export green hydrogen by 2030, with a capacity of 0.06 million tonnes of oil equivalent. The study also suggests that green hydrogen will help boost Peru's renewable energy capacity and estimates that the country will require 26 TWh of energy to produce green hydrogen by 2050, equivalent to 19% of total energy output.
Several factors pushed researchers to update the report including increasing global awareness of the importance of fighting climate change as well as commitments made by different nations at the COP 26 held in Glasgow in 2021 to revise their nationally determined contributions (NDCs) in 2022.
The most important stakeholders in the energy sector were invited to the participate in working groups to update the report, including: government entities (the Ministries of Energy and Mining, Environment, Economy and Finance, Transport and Communications, and the Lima and Callao urban transport authority (ATU); private entities like business associations and companies involved in the energy sector; NGOs, institutions and representatives from academia.