Will Peru be the World’s Next Big Biodiesel Producer?
As South American nations rush to achieve energy independence and become the next Venezuela, oil exploration and treasure hunts for profitable and reliable energy sources have increased in countries like Uruguay, Ecuador, Brazil, and Chile.
This past Friday, the U.S. company Pure Biofuels opened up a new biodiesel plant in Lima, Peru. It plans to produce 52 million gallons of biodiesel next year, about 35% of which will meet Peru’s internal demands for the alternative fuel. The rest will be exported. The plant has the capacity to increase its production threefold, and hopes to eventually produce 156 million gallons of biodiesel per year. Production has yet to start at the new plant, but will later this year.
The new plant is only the second to open its doors in Peru. The other biodiesel plant opened in January and will produce about 48 million gallons each year. So with biodiesel on the rise, could this be the start of a new energy boom coming out of Peru? It is difficult to know.
