The European Investment Bank is providing $150 million to renewable energy production company Enel Green Power Perú to build and operate a wind farm and photovoltaic solar power plant currently under construction. The two facilities will have an installed capacity of 312 MW when they enter service (expected for the first half of 2018).
The wind farm will be located in the Nazca region, 470 km (292 miles) to the south of Lima, while the Rubí solar power plant is currently being built in the Moquegua District of Peru’s Mariscal Nieto Province. It will have a capacity of 180MW. It will be able to generate roughly 440GWh per year, enough to power roughly 351,000 Peruvian households.
Their operation will help to meet growing electricity demand in Peru. In addition to its environmental benefits, the project is anticipated to create jobs during the construction and operation phases.
EIB Vice-President Román Escolano, said, “This project is covered by our priorities for Latin America. It will make it possible to expand clean energy production in Peru, facilitating the development of new infrastructure to benefit its people.”
The operation is the EU bank's fifth in Peru, where the EIB has to date financed investment projects for a total financing amount of $360 million.