Brazil, Peru boost energy cooperation

A statement from Peru's presidency says the neighbors will support biofuels and hydropower. Brazil is the world's largest ethanol exporter.

Companies including U.S.-owned Maple Energy already plan to produce ethanol from sugarcane grown and distilled on Peru's Pacific coast.

State oil companies Petroperu and Petroleo Brasileiro SA may also build a petrochemical plant in northern Peru to produce 700 million tons a year of polyethylene, a common plastic.

Both countries' presidents signed 10 energy accords Saturday following a summit in Lima.