PERÚ - Observatory for Renewable Energy in Latin America and

Perú- Products I and II
In addition, in the financing of the project participated INTERBANK, finance
entity belonging to the local banking system, which financed the project through
the Leasing mechanism. It is important to stand out the currently INTERBAK has
a line of financing with SECO (State Secretariat of Economic Affairs of Swiss
Confederation) directed to Peruvian companies that want to invest in
environmental technologies. The objective of this financing method is the
improvement of the environment.
Additionally, the H.P.S. “Santa Cruz” qualified as a CDM project, having as
counterpart in the purchase of certificates of emissions reduction the company
“Endesa Carbono S.L.” which contributions helped to improve the cash flow of
the project and to give it sustainability.
2.3.4 Legal Aspects
The H.P.S. “Santa Cruz II” is a project of hydrological use that starts its
construction in January of 2009 and enters into commercial transaction in June of
2010. During the development of the project, the frame that regulated the market
of the generation of electric power was governed basically by the principles
contained in the Electric Concessions Law (1992), its regulations (1993) and the
Law to Ensure the Efficient Development of Electric Power Generation (2006).
Later the project would be benefited by the Law to Promote Investment in
Electricity Generation with Renewable Energies L.D. Nº 1002 and its Regulations
(2011).
The Electric Concessions Law established that from a superior power of 0,5 MW,
projects require authorization to develop activities of electricity generation. Then,
with the enactment of the L.D. Nº 1002 and its Regulations, it was established
that hydroelectric projects up to 20 MW require concession to receive a right that
facilitates the obtaining of servitudes that belong to third parties. By having an
installed capacity of 6 MW, the hydroelectric company “Santa Cruz S.A.C.” fell
within the requirements of this standard.
The Hydroelectric Company “Santa Cruz S.A.C.” requested definite concession
of electricity generation with renewable energy resources through a document
presented on September 10 of 2008. For the obtaining of that concession, the
company requested the Ministry of Energy and Mines composed by the following
documents:
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