PUBLICATION
Peru Power 2015 POWER Release
Although Peru has been one of the top-performing economies worldwide over the last decade, its energy sector is still small in absolute numbers. Consumption levels per capita are low, even by Latin American standards, and demand growth is highly dependent on new mining investments. Successive governments have kept energy prices low; and regional interconnection, which could provide the industry with considerable export revenues, especially to Chile, is not under immediate discussion. Yet investors continue to come. Generators continue developing new ventures, with the Peruvian state guaranteeing long-term pricing through power-purchase agreements. Big consulting and construction firms have found in Peru a key emerging market to offset the decline of projects in Europe. With figures for installed capacity and energy consumption still at very modest levels, there is nowhere to go but up.
RECENT PUBLICATIONS
It is said that mining is a patient industry. Current demand projections are not. Demand for minerals deemed ‘critical’ is set to increase almost fourfold by 2030, according to the UN. Demand for nickel, cobalt and lithium is predicted to double, triple and rise ten-fold, respectively, between 2022 and 2050. The world will need to mine more copper between 2018 and 2050 than it has mined throughout history. 2050 is also the deadline to curb emissions before reaching a point of ‘no return.’ The pace of mineral demand and the consequences of not meeting it force the industry to act fast and take more risks. Mining cannot afford to be a patient industry anymore. The scramble for supply drives miners back to geological credentials, and therefore to places like the African Central Copperbelt.
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