Marking a significant entry into the Latin American market, Yinson Renewables has announced the full commercial operation of its 97 MWp Matarani Solar Plant in Peru. Situated near the city of Arequipa, the facility began exporting electricity to the grid in July 2024 and has now officially launched, positioning itself as the second-largest solar farm in the nation.
Yinson Launches 97MWp Matarani Solar Plant in Peru
The Matarani plant is a substantial contributor to Peru’s energy transition. Spanning an impressive 750,000 square meters and utilizing nearly 150,000 solar panels, the project is engineered to generate approximately 260 GWh of clean energy each year. This output is sufficient to power around 62,000 Peruvian homes and is projected to displace over 56,000 tonnes of CO2 emissions annually. The plant’s generated electricity is secured through a long-term power purchase agreement (PPA) with Orygen, a Peruvian renewable energy producer supported by Actis.
“The Matarani Solar Plant is a significant milestone for Yinson Renewables, as it marks our first project in Peru and the wider region,” stated David Brunt, Chief Executive Officer of Yinson Renewables. “With this plant now fully operational, we have created a strong foundation to facilitate our continued expansion.”
Strategic Acquisition and Project Development
Yinson acquired the Matarani project in January 2024 from the Spanish developer Grenergy Renovables SA. As part of the agreement, Grenergy managed the full engineering, procurement, and construction (EPC) services and will continue to provide operations and maintenance support for the first two years of the plant’s life. The successful launch of Matarani represents Yinson’s fourth large-scale project to reach commercial operation, joining its Nokh and Rising Bhadla 1 & 2 solar plants in India.
Expanding a Global Renewables Portfolio
This project solidifies Yinson Renewables’ position as a key independent power producer, with a focus on Latin America, Europe, and the Asia-Pacific. The company now has 557 MW of operational utility-scale renewable energy assets. Looking ahead, Yinson has a robust development pipeline exceeding 1.5 GW, complemented by an additional 3 GW in early-stage projects. Specifically for Latin America, the company aims to develop nearly 1 GW of projects over the next three to five years.
In Peru, the momentum continues with the 130-MWp Majes solar project, which is expected to be construction-ready by the end of 2024. Yinson Renewables is the clean energy arm of Yinson Holdings Berhad, a Malaysian energy infrastructure and technology group with diverse interests, including offshore production, green technologies, sustainable investment management, and other renewable energy ventures.
Sources
- IDB Invest and Natixis Facilitate Energy Transition in Peru by …
- Yinson Renewables acquires 97Mwp Matarani solar project in Peru
- 97 MW Matarani plant begins operation in Peru – PV Magazine
- Yinson secures US$59 million for 97MW solar plant in Peru – PV Tech
- Yinson Renewables’ 97 MWp Matarani Solar Project in Peru …
- Yinson Renewables’ Matarani Solar Plant in Peru officially launched …
- Yinson Renewables secures USD 59 million project financing for …
- [PDF] YINSON RENEWABLES SECURES USD 59 MILLION PROJECT …
