ENGIE Initiates Operations of the Largest Wind-Power Plant in Peru, Promoted by IDB Invest
- The renewable energy project will help reduce more than 230,000 tons of CO2 equivalent per year, benefitting the environment.
ENGIE Energía Perú announced the start of commercial operations of the 260MW Punta Lomitas Wind Power Plant in Peru. The construction of the plant was financed by an IDB Invest loan for up to $300 million, which includes resources mobilized from Dutch business development bank FMO for $100 million and from BNP Paribas for $55 million.
The Punta Lomitas Wind Power Plant has a nominal capacity of 260 MW and after completing its 36.4 MW expansion, it will increase its total capacity to 296.4 MW. It is located in the district of Ocucaje, in the Ica Region, and has 50 wind turbines (plus 7 wind turbines from its expansion), two electrical substations, and 60 km of transmission lines that connect the plant with the National Interconnected Electric System (SEIN).
The start of operations means reducing more than 230,000 tons of CO2 per year, which is equivalent to removing approximately 50,000 vehicles from the roads each year. Likewise, the plant will help Peru to increase the non-conventional renewable energy (ERNC) component of its energy matrix and contribute to reaching the national goal set for its nationally determined contribution (NDC) of reducing its total emissions by 30% of greenhouse gases compared to its 2030 baseline.
During the construction period, the project generated 1,000 direct jobs, of which 100% of the unskilled labor was local, benefitting the communities of the Ocucaje district, in the Ica Region.
IDB Invest’s participation has contributed to the sustainability of the project, by guaranteeing compliance with local and international standards in the evaluation and management of environmental and social risks and impacts, labor conditions, efficient use of resources, prevention of pollution, and the health and safety of the community.
A positive contribution was made to five of the United Nations Sustainable Development Goals: Clean and Affordable Energy (SDG 7), Decent Work and Economic Growth (SDG 8), Industry, Innovation and Infrastructure (SDG 9), Climate Action (SDG 13), and Partnership for the Goals (SDG 17).
About IDB Invest
IDB Invest, a member of the Inter-American Development Bank Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $16.33 billion in assets under management and 394 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries.