In July 2025, Spanish renewable energy firm Zelestra, backed by Swedish investors, announced a landmark investment plan of over US $1 billion to supply clean energy directly to Peru’s mining sector. The initiative includes the already operational 300 MW San Martín solar plant, now the largest in Peru, as well as the upcoming 238 MW Babilonia facility and three additional solar and hybrid projects that together will exceed 1 GW of installed capacity. These projects aim to serve large copper mines in southern Peru by offering long-term power purchase agreements just as many mining companies approach the renewal of existing energy contracts.
This effort aligns with Peru’s national strategy to diversify its energy matrix and reduce dependency on hydroelectric and fossil fuel sources. By advancing large-scale solar and hybrid systems—including battery storage—Zelestra’s entry supports the country’s energy transition goals while improving energy security for the mining sector. From a policy perspective, it offers a timely response to the dual challenges of grid reliability and environmental compliance. Furthermore, it demonstrates the potential of cross-border energy partnerships in helping mining companies meet their ESG targets, improve cost predictability, and respond to growing global demand for low-emission supply chains.
The significance of this investment goes beyond clean energy deployment. In regions where mining intersects with rural and Indigenous communities, long-term viability depends not only on infrastructure and regulation but also on earning a social license to operate. The success of this renewable transition will hinge on Zelestra’s and its partners’ ability to engage transparently with local populations, ensure fair benefit distribution, and manage environmental impacts collaboratively. In this new energy landscape, social trust is just as vital as technical capacity—without it, even the most ambitious plans may stall or backfire.