Interest in incorporating energy storage into renewable energy projects is gaining ground in Peru. Sungrow reports a significant increase in the number of quotes the company is receiving, and that the battery storage projects it is analyzing now represent 30% to 40% of the size of photovoltaic projects .
This was stated by Luiz Fernando Biagini, Head of Sales Southern Cone of Sungrow , during his participation in Future Energy Summit (FES) Peru 2026 , held on September 28 in Lima.
“The number of quotes we are making is increasing significantly,” he said.
The executive clarified that photovoltaics still clearly leads the way over energy storage. However, batteries are beginning to gain ground among the opportunities available to the manufacturer.
“The PV portion is still much larger than the battery portion. We’ve seen that the sizes of battery projects are approximately 30% or 40% of the PV [quotes] we’ve seen,” Biagini explained.
Sungrow expects that relationship to increase as developers find new ways to manage and market the electricity generated.
“When the market understands how we are going to sell that energy in a smarter way than we are using today, it will surely grow in the coming years,” he projected.
More than 2,400 MW of solar power are preparing the ground
The signs that Sungrow observes appear amid a considerable expansion of the Peruvian photovoltaic portfolio.
In April, the Ministry of Energy and Mines (MINEM) reported 13 solar power plants with definitive generation concessions , located mainly in the south of the country. Together, they have a projected capacity of 2,402 MW and represent estimated investments of US$1,805.9 million .
Production is also growing. In March 2026, solar generation reached 288 GWh , compared to 115 GWh in the same month of 2025, representing a year-on-year increase of 151%. During that period, non-conventional renewables collectively contributed around 12% of national electricity production.
In June , Intipampa Expansión, owned by ENGIE Energía Perú, and Sunny Expansión, owned by Kallpa Generación , joined this expansion. Both projects entered commercial operation and together added 156.7 MW of solar capacity to the National Interconnected Electric System (SEIN), following investments of US$112.7 million.
The growth of photovoltaics simultaneously expands opportunities for solutions capable of managing renewable production and providing services to the system.
Solar + BESS projects are starting to appear
This interest in storage is already reflected in concrete projects that are progressing through their processing.
One of the most relevant cases is Cotahuasi I , promoted by GR Guanaco. The Ministry of Energy and Mines (MINEM) approved its Environmental Impact Statement (EIS) on June 30th, corresponding to a 200 MW photovoltaic solar power plant accompanied by BESS energy storage systems .
Also undergoing environmental review is the Ubinas project, by GR Mitoconga, designed as a photovoltaic power plant with a storage system and associated transmission line. During 2026, the Ministry of Energy and Mines (MINEM) recorded progress in the project's environmental documentation.
These initiatives are complemented by projects aimed at incorporating batteries into existing solar installations. The Ministry granted environmental approval for the implementation of a 5 MWh BESS at the Repartición Solar Plant , while the Majes Solar Plant has a technological upgrade project that includes another 5 MWh system.
These developments do not yet allow us to speak of a storage market comparable to other countries in the region that have been deploying batteries on a large scale for longer, but they show that the technology is beginning to be incorporated into both new developments and existing solar assets.
Continue reading
Peru is also changing the rules for complementary services
Commercial growth is occurring while the country reviews part of the framework needed to incorporate new technologies into the operation of the electrical system.
In February, Osinergmin approved a new COES Technical Procedure No. 22 for the Spinning Reserve for Secondary Frequency Regulation . That same month, it ordered the publication of the new Technical Procedure No. 21 on the Spinning Reserve for Primary Frequency Regulation .
Subsequently, in July, the agency published for comment a proposed modification of procedures PR-21 and PR-20, the latter referring to the entry, withdrawal and modification of facilities in the SEIN.
In parallel, the Ministry of Energy and Mines (MINEM) published in April for comment a draft Regulation of Complementary Services , which also proposes modifications to the Regulation of the Electricity Concessions Law, the Regulation of the Wholesale Electricity Market and the COES Regulation.
Therefore, the framework continues to evolve and it is not yet appropriate to present these latest proposals as definitive regulations.
For BESS systems, this discussion will be relevant because their business model doesn't necessarily depend solely on energy arbitrage. The ability to provide different services to the grid can add revenue streams and improve the economics of the projects.
Prices enter a new stage
According to Sungrow, the growth in interest in batteries also coincides with a change in international price dynamics.
Biagini recalled that years ago, prices were around US$1,000 and that during the pandemic they dropped to around US$400 . Currently, he stated, prices can be found around US$200 , with variations depending on the size of the project.
However, the executive did not specify during his presentation the unit, technological configuration or scope of those references, so it is not possible to compare them directly with prices from other projects or markets.
He also noted that trading models are changing. In contrast to fixed prices, flexible alternatives are emerging with components indexed to the value of lithium.
At that point, he mentioned references between US$120 and US$150 , although again without specifying the unit or the associated conditions. For this reason, these figures should be understood solely as commercial references proposed by the executive and not as a general benchmark for the BESS market.
Beyond the initial price, Biagini emphasized the predictability needed for investments that will operate for years.
“To make an investment like this work, this peace of mind is necessary, this assurance that what is being purchased now will continue for the next few years,” he said.
Electrifying demand, the next challenge
According to the Sungrow representative, adding more generation and storage is only part of the equation. The next challenge will be ensuring that electricity demand keeps pace with that expansion.
“One issue that all countries face after they have a mature, stabilized technology is promoting demand,” he said.
In that regard, he suggested that Peru should analyze "how we can expand the country's electrification and demand," an evolution that, in his opinion, could open up considerably greater opportunities than those currently projected by the industry.
The scenario described by Sungrow thus shows a market in transition: photovoltaics continues to dominate the opportunities analyzed by the manufacturer, but BESS are beginning to acquire greater scale , while hybrid projects appear and the country discusses the rules that will determine what services storage can provide and how they can be remunerated.