After more than a month of scrutiny and review of the ballots, Peru has determined the two candidates who will compete for the presidency in the second round on June 7. Keiko Fujimori, the candidate for Fuerza Popular, and Roberto Sánchez, the candidate for Juntos por el Perú , received the most votes in a first round marked by political fragmentation and a highly dispersed electorate.
Fujimori led the electoral process with nearly 18% of the valid votes, while Sánchez secured his place in the runoff with just over 12%. The outcome was decided by a narrow margin, eliminating the conservative Rafael López Aliaga, who fell just a few tenths of a percentage point short of reaching the decisive stage.
Less than a week before the presidential runoff, both candidates are entering the second round with proposals that coincide on the need to promote renewable energy, although they differ on key aspects such as the role of the State, the development of hydrocarbons and the strategy to accelerate the energy transition.
The election will take place in a complex political context for the Andean nation, which has had eight presidents in less than a decade. Against this backdrop, the energy sector is closely watching the policies the future government might adopt at a crucial time for the expansion of renewable energy generation, electrification, and the implementation of new regulations designed to promote investment. Polls published in the final stretch of the campaign show Keiko Fujimori, the candidate for Fuerza Popular, leading in voter intention with between 36% and 39%, while Roberto Sánchez, the candidate for Juntos por el Perú, registers between 30% and 35% of the vote. Meanwhile, approximately 16% of the electorate remains undecided, a factor that keeps the election outcome uncertain.
Two energy models for the next government
Fujimori proposes increasing non-conventional renewable energy sources to 20% of the electricity mix by 2031 (it currently stands at 14%) and expanding rural electrification, especially in the Amazon and other areas where access to electricity remains limited. He seeks to prioritize energy security, private investment, and reducing dependence on imported energy from 75% to 50%, aiming for 100% national electricity coverage.
Her platform also includes the development of a National Green Hydrogen Agenda, an initiative that envisions collaboration between public agencies, private companies, and international cooperation organizations. The candidate's proposal is not limited to clean energy sources. It also includes promoting hydrocarbon exploration, opening new blocks in the rainforest and along the northern coast under a stable regulatory framework that encourages private investment and strengthens the national energy supply.
In parallel, it is promoting the creation of a Northern Energy Hub, with the aim of turning this macro-region into a strategic center for the generation, processing and distribution of energy, taking advantage of its resource potential and its geographical location.
For his part, Sánchez focuses on energy sovereignty and proposes a more interventionist vision of the energy sector, considering that resources such as gas, oil, water and energy should remain under the direct management of the State due to their strategic nature.
The initiative is part of an agenda that seeks to strengthen state capacity in activities considered key to the country's economic and social development. Regarding the energy transition, the candidate proposes the creation of a National Innovation Center focused on promoting projects related to construction, sanitation, and renewable energy.
The proposal seeks to strengthen local knowledge generation and the development of new technologies applied to productive and infrastructure sectors. Sánchez also incorporates into his platform a sustainable and equitable development strategy based on promoting the circular economy, increasing renewable energy use, and protecting ecosystems, water sources, and native seeds. He also proposes repealing the so-called Anti-Forestry Law and implementing protection mechanisms for environmental defenders.
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It proposes revitalizing and strengthening Petroperú to recover 40-45% of the market, prioritizes the Southern Gas Pipeline, and advocates for the widespread residential use of natural gas as a universal social policy. Furthermore, it mentions green hydrogen, solar, wind, and micro-hydropower, and sets a quantifiable goal of increasing the rural electrification budget from S/489 million to S/1,100 million annually.
Beyond the differences between the two candidates, the sector also notes a number of shared gaps in their energy proposals. Neither program addresses the potential growth in electricity demand associated with data centers and artificial intelligence, nor does it include concrete goals for the development of battery energy storage systems (BESS), a technology considered key to accelerating the integration of renewable energy.
Nor are there any specific initiatives related to electromobility, the electrification of the economy, distributed generation, or the deployment of smart grids. Furthermore, there is a lack of strategies to develop value chains associated with critical minerals such as copper and lithium, resources that Peru possesses and that could play a significant role in the global energy transition.
The country currently has a growing portfolio of solar, wind, and green hydrogen projects, while the sector continues to closely monitor the regulations of Law 32249 , considered one of the main tools to improve the efficiency and competitiveness of the electricity market.
According to recent estimates, Peru could add 3.6 GW of non-conventional renewable energy in the coming years from solar and wind projects currently under construction or in various stages of evaluation. This growth will also require new investments in transmission infrastructure and storage solutions to support the expansion of clean energy generation.
In this context, the decisions made by the next government will be closely watched by developers and investors in the sector , especially regarding regulatory frameworks, access to financing, and mechanisms to accelerate the incorporation of new renewable capacity.
Despite the electoral context, various market players believe that Peruvian energy development maintains a dynamic relatively independent of political cycles. The sector demonstrates a particular resilience to changes in government, a characteristic that distinguishes it from other Latin American markets.
In an interview with Energía Estratégica, Edmundo Farge , CEO of Batech Energy, stated that the impacts of Peruvian policy on the economic sector are "minimal or almost nonexistent." He explained that this is due to "the strength of the currency and the control of inflation, coupled with the rise in metal prices for the mining sector, which demands renewable electricity."
Macroeconomic stability and the continuity of energy investments are reflected in the fact that Peru has had more than eight presidents in recent years without substantially altering its economic course or the energy sector's roadmap. This perception is particularly relevant at a time when the industry awaits key regulatory decisions to accelerate the deployment of new renewable capacity and strengthen the competitiveness of the electricity system.
The outcome of the runoff election will define not only who will hold the presidency for the next five years, but also who will be in charge of the Ministry of Energy and Mines (MINEM) and the approach with which Peru will seek to consolidate its energy transition process in a stage marked by new investments, regulatory challenges and growth opportunities for renewable technologies.
This anticipation extends to other countries in the region, such as Colombia, where candidates Abelardo de la Espriella and Iván Cepeda will face off in a presidential runoff election on June 21. In both cases, developers, investment funds, and companies in the sector are closely monitoring the political landscape, attentive to any signals that might influence the development of renewable energy, infrastructure investments, and the progress of the energy transition in Latin America.
The outcome of the runoff election will determine not only who will occupy the presidency of Peru for the next five years, but also who will lead the Ministry of Energy and Mines (MINEM) and the approach the country will take to consolidate its energy transition in a period marked by new investments, regulatory challenges, and growth opportunities for renewable technologies. The sector's anticipation is not limited to Peru. It also extends to Colombia, where candidates Abelardo de la Espriella and Iván Cepeda will face off in a presidential runoff on June 21. In both markets, developers, investment funds, and energy companies are closely monitoring the political landscape, attentive to any signals that could influence the development of renewable energy, infrastructure investments, and the direction of the energy transition in Latin America.