Sustainablearth LATAM has completed the sale of a 120 MW renewable energy portfolio in Peru, consisting of solar PV, wind power and hybrid projects. The buyer—a local Peruvian energy company—is currently advancing its financial structuring phase and aims to start construction in the first quarter of 2027.
According to Adolfo Rojas, General Manager of Sustainablearth LATAM, the projects were transferred with fully available and suitable land, complete documentation, and advanced pre-feasibility studies, making them attractive to investment funds focused on renewable infrastructure.
The portfolio includes a 100 MW solar PV project and a 10 MW wind project, both located in northern Peru. It also comprises a third hybrid project, combining 3 MW of solar PV and 10 MW of wind, located in the central region. Although total capacity reaches 123 MW, the company rounded it to 120 MW for market presentation purposes.
“We have already begun basic engineering for the 3 MW solar PV project, and we will move forward with the others as we are contracted for additional services,” Rojas explained. As planned, the logistical and permitting schedule aims to finalize all requirements by 2026, allowing construction to begin early the following year.
All three projects have power purchase agreements (PPAs) signed for 10-year terms, renewable for 5+5 years, under what Rojas described as highly competitive conditions. Prices are approximately USD 40/MWh for solar PV, USD 38/MWh for wind, and an expected USD 35/MWh for the hybrid project by 2028.
“These are highly competitive prices, which benefit both end-users and distribution companies participating in long-term procurement processes,” he noted. He added that the smaller projects will operate under self-generation schemes, while the 100 MW solar PV plant will be integrated into the national interconnected system.
Regarding the company’s positioning, Rojas emphasized that Sustainablearth LATAM has historically operated as a strategic bridge between foreign investors and local developers.
“We were hired mainly by international companies seeking bankable land, technical studies and rapid access to the right local stakeholders,” he said, highlighting past collaborations with TotalEnergies, Andes Solar, 350 Renovables, Aggreko and Coelvisac.
“We manage a portfolio of fully regularized land, located close to substations with identified injection capacity,” he added. Beyond the three projects sold, the company recently received a new mandate from a U.S. firm to develop a 100 MW solar PV project in northern Peru.
On the regulatory front, Rojas welcomed the amendment to Law 32249, stating that it has accelerated project development, particularly for assets under 10 MW.
“The reform has brought significant benefits to the sector, especially for projects entering the fast-track scheme, which are no longer subject to storage requirements,” he stressed. However, he warned of growing pressure on available land.
“Today, some companies are acquiring thousands of hectares, leaving little room for other developers—often without a clear strategy,” he observed. In this context, he said, the key is securing real agreements with landowners and viable project structures. Demand projections are also favorable.
“Current demand is much higher than before, especially from mining companies, data centers, and clients looking to migrate to the free market,” he stated. This evolution, coupled with competitive pricing, positions Peru as a relevant destination for new renewable energy investments.
Although the company previously explored opportunities in Ecuador, Rojas said its present focus is entirely on Peru. “Our goal is to reposition ourselves in the Peruvian market. This would be our sixth or seventh project, and we already have a portfolio aligned with market requirements,” he noted. He concluded that the current environment represents a clear opportunity for the renewable energy sector.
