Peru inaugurates 252 MW San Martín solar plant, its largest PV project to date

The government of Peru has formally commissioned the San Martín Solar photovoltaic facility, a 252.4 MWac plant located in La Joya, Arequipa. The project, executed by Zelestra Perú, a subsidiary of Spain’s Zelestra (formerly Solarpack), was inaugurated in a public ceremony attended by President Dina Boluarte and Energy and Mines Minister Jorge Montero.

The plant is integrated into the National Interconnected Electric System (SEIN) through a 220 kV transmission line linked to the San José substation. Built over an 800-hectare site in a high-irradiation, arid region, the facility contains 450,000 photovoltaic modules with 665 Wp capacity each, mounted on single-axis trackers. According to data from PV Magazine, the plant is designed to produce approximately 830 GWh annually, sufficient to meet the electricity consumption of around 440,000 households.

Financed through a $179.7mn investment, the project was made viable via a long-term private Power Purchase Agreement (PPA) signed with Kallpa Generación, which has contracted 100% of the energy output. This agreement enabled project financing worth $176.6mn from international lenders. Kallpa currently supplies approximately 23.4% of Peru’s electricity market.

"We are proud to see Peru's most ambitious solar project now fully operational, and we look forward to a long-term collaboration with Kallpa to provide clean, reliable energy for years to come," said Zelestra CEO Leo Moreno.

Construction lasted 18 months and generated between 450 and 940 direct jobs during its various phases. The infrastructure includes 32 transformation centres, each equipped with eight inverters, a transformer, and medium-voltage switchgear.

Zelestra, currently owned by Sweden-based EQT, is targeting further expansion in Peru with an emphasis on supplying the copper mining sector. In an interview with Reuters, Zelestra’s Latin America CEO José Luis García confirmed the firm’s plan to invest between $1bn and $1.5bn over five years to develop up to 1 GW of renewable energy capacity in the country. Most of the output, García stated, will be directed to mining companies in southern Peru, including operations run by Freeport-McMoRan, Glencore, MMG, and Anglo American.

Beyond San Martín, Zelestra is advancing the 238 MW Babilonia project, also in Arequipa, and holds additional developments in Tacna, Moquegua, and along the Panamericana, totalling approximately 530 MWdc. The firm’s regional goal includes 3 GW of installed capacity across Peru, Chile, and Colombia.

Renewables account for a modest share of Peru’s power generation mix. While hydropower remains dominant, solar is gradually gaining traction. Market concentration remains an issue, with Chinese state-owned companies such as China Southern Power Grid and China Three Gorges currently controlling key segments of the country’s electricity infrastructure.