With over 55% of the country's electricity consumption in the free market, Peruvian mining is consolidating its position as the main driver of the country's energy transition. Large companies in the sector are accelerating the signing of renewable energy contracts, adopting self-generation technologies, and preparing for a cleaner, more competitive, and more resilient electricity grid.
This process responds both to pressures from the global market for products with a lower carbon footprint and to a shared vision with the national government.
"The Government is promoting modern, inclusive and sustainable mining that generates development and well-being for communities," said the Minister of Energy and Mines, Jorge Luis Montero Cornejo, during his participation in PERUMIN 37.
This vision aligns with the country's climate commitments, which seek a 40% reduction in energy sector emissions by 2030 and an 81% renewable energy mix by the end of the decade.
The paradigm shift is already translating into concrete facts.
In 2020 , Southern Peaks Mining was the first mining company in the country to certify the use of 100% renewable energy , after signing a contract with Statkraft Peru to supply its Condestable mine with 18 MW until 2033, backed by renewable energy certificates.
A year later, Anglo American raised the stakes with Quellaveco, the country's first large-scale mine powered entirely by wind energy , thanks to a contract with ENGIE that allocates the production of the Punta Lomitas 260 MW park to meet its demand.
These precedents are already beginning to be replicated. Southern Copper, Antamina, Cerro Verde, Las Bambas, and Yanacocha have publicly expressed their interest in transitioning to renewable energy sources, both to reduce emissions and to control their energy costs.
In the case of Antamina, even its partner BHP Mitsubishi has signed regional renewable electricity supply agreements.
These decisions align with global sustainability goals and put pressure on the rest of the Peruvian mining sector to accelerate its transition.
Beyond contracts, mining companies are also adopting on-site self-generation strategies.
Solutions being evaluated include solar parks in remote units, battery storage systems to cut peak consumption, fleet electrification (e.g., electric trucks with solar chargers), and improvements in energy efficiency.
The new regulatory framework under Law 32249 is facilitating this transformation. The elimination of the firm power requirement to sign PPAs, the introduction of time-block tenders, and incentives for distributed generation open a new stage for long-term contracts with clean energy.
Mining companies are better positioned to take advantage of this scenario and sign agreements at competitive prices.
Companies like Orygen are already taking advantage of this context.
The company announced a US$3 billion investment plan in 10 hybrid projects that combine solar and wind energy, distributed in regions such as Lambayeque, Cajamarca, Ica, Arequipa and Moquegua.
This expansion adds to its current portfolio of 13 generation plants and 2.3 GW of installed capacity that integrate solar, wind, hydroelectric and gas thermal technologies.
One of its most emblematic projects is Wayra Solar , which will be the country's first large-scale hybrid plant, located in Marcona (Ica), and whose commercial operation is planned for the last quarter of 2026.
Through alliances with companies in the mining sector, such as Las Bambas , Raura , Corona and Andalucita , Orygen has already significantly increased the supply of certified renewable energy to the sector, going from 0.1 TWh in 2019 to more than 1.5 TWh projected for 2025 .
The growth in mining demand is also a key factor.
In February 2024, the system reached a record peak demand of 7,761.9 MW.
COES projects that between 2027 and 2030 that peak will exceed 9.5 GW, with an annual expansion of 3.3%.
In terms of energy consumed, 2024 ended with approximately 60,728 GWh, 3% more than the previous year.
This pace requires the incorporation of new generation capacity to avoid deficits from 2025-2026.
Mining, with its ability to sign PPAs and develop self-generation projects, will be a central player in sustaining the energy supply.
This framework can be observed in the report on the Peruvian renewable energy market, prepared by Energía Estratégica and Future Energy Summit. The document, available for free download, offers specialized analysis, a comprehensive view of the market, and strategic tools, establishing itself as a key guide for companies and investors.
It is worth noting that the Future Energy Summit (FES) Peru will take place next Monday, September 29, with the participation of more than 400 stakeholders, mainly executives and leaders from the public sector.
During the event , Panel 8, "Strategic Investments in Peru: Mining and Renewables," will take place, featuring executives such as Walter Vargas (FMO), Alejandro Martínez Pulido (DIPREM Peru), Andrés Vásquez Mena (Lader Energy), Tamiko Hasegawa (Anglo American), and Carlos Claux (Buenaventura Mining Company). Discussions will focus on the impacts of the new legal framework, the challenges of consolidating green mining, the competitiveness of renewable PPAs, and the role of energy storage.
In addition, prominent figures such as Marco Fragale (CEO of Orygen), Walter Sciutto (CEO of Pluz Energía Perú), Cristian Remolina (general manager of ISA Energía) and César Butrón (president of the Board of Directors of COES) will participate, along with executives from Luz del Sur, EDF Perú and Acciona Energía , as well as representatives of technology companies such as Huawei, JA Solar, Jinko Solar and Trina Solar , who will present innovations in solar energy and storage.
The convergence between mining and clean energy is no longer a distant goal.
It is an ongoing process, sustained by business decisions, regulatory conditions, and growing demand.
The challenge will be to consolidate it with a long-term vision, public-private coordination, and strategic planning.
Peru has the opportunity to position itself as a regional leader in the production of minerals with added environmental value.