Peru quietly received the seal of approval of Moody's Investor Service this December, as that ratings agency became the last to raise the South American country's credit rating to "investment grade." With the upgrade to Baa3, Moody's rewarded Peru and leaders in the capital Lima for fiscal and monetary policy successes that are drawing increased foreign direct investment (FDI) while cutting national debt.

Now, as 2009 draws to a close, Peru's friendly investment environment is being validated by companies from Latin America and beyond as they announce plans to gain a foothold in the Peruvian market.

The latest news of Peru's FDI appeal comes from far across the Atlantic from South America in frozen Finland.

Santu Hulkkonen, director of the Cleantech Finland consortium, announced in November at a biofuels and renewable energy conference in Lima that 10 Finnish energy companies will invest in Peru's burgeoning wind energy sector in the first half of 2010.

Finland's environment minister, Paula Lehtomaki, said at the same conference, called COBER III, that over the next 3 years, Finnish companies are expected to invest 6 million euros in Peru. For Finland, moving into the Peruvian market for wind power development helps cement the Nordic country's leadership on the global clean power scene.

Cleantech Finland's website says that Finland itself has a cleantech market that is growing at a 15% annual clip since late last decade, and over 1300 companies at all levels are participating in the country's cleantech expansion.

Success beyond Finland, however, is what will define the most successful Finnish cleantech ventures. In Peru, Cleantech Finland gains access to a Pacific Rim market with around 29 million residents and great potential for bringing new energy technologies to underserved communities.

I will be in Peru January 12-22, meeting with business and community leaders from both inside and outside the country who are busy matching world-class entrepreneurial acumen with local needs.

Green Chip International readers will be the first with access to exclusive multimedia reports on how the investment landscape for South American renewables continues to shape up with worldwide participation like what we're seeing from Finland now.

Click here to learn more about GCI in this special report.

-Sam Hopkins