Peru is expected to have more than $100 million for biofuels sector coming from the private investment especially in the ethanol and biodiesel projects. The renewable fuels would come mostly from the country's sugar cane. palm oil and jathropa in which companies have had talks with the local governments for land acquisition and collaboration with the agricultural caompanies.
The demand is fueled by Peru's law which requires diesel supply to have a blend of 2% biodiesel by the first of 2009 an the amount is to be increased to 5% by 2011. The biofuels demand is not only for the growing internal market but also following free trade agreement between US and Peru which has seen a new chapter in the development of Peru's energy and technological resources.
The Romero group is expected to complete a biofuels plant based on palm oil next month. Bioterra, is in the process of acquiring land to start up its own biofuels operation while Maple Energy is investing $157m to build an ethanol plant, export terminal and power plant in northern Peru.
The demand is fueled by Peru's law which requires diesel supply to have a blend of 2% biodiesel by the first of 2009 an the amount is to be increased to 5% by 2011. The biofuels demand is not only for the growing internal market but also following free trade agreement between US and Peru which has seen a new chapter in the development of Peru's energy and technological resources.
The Romero group is expected to complete a biofuels plant based on palm oil next month. Bioterra, is in the process of acquiring land to start up its own biofuels operation while Maple Energy is investing $157m to build an ethanol plant, export terminal and power plant in northern Peru.
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