Peru‘s energy sector will receive a record investment of $8.1bn this year as the government moves to attract competition and guarantee economic growth.

According to Energy Minister Jorge Merino, energy investment was crucial for the country’s overall economic development.

The projects set to receive funding include 1.1 GW of hydroelectric capacity, new transmission lines and an $800m scheme to extend the nation’s power grid to remote areas, with an emphasis on solar power generation.

For more Latin America news.