Electroperu wins $65m arbitration case against Sociedad Minera Cerro Verde

SMCV’s claims, if successful, would have led to a potential $140 million reduction in future energy prices under the agreement.

The arbitration raised complex legal and regulatory issues, including the interpretation of electricity sector regulations in the context of the power-purchase agreement, legal analysis of comparable power purchase agreements, and the assessment of multiple methodologies for energy price comparisons.

Both parties presented detailed arguments supported by legal, regulatory, and economic experts. The tribunal dismissed all 10 claims submitted by SMCV.

Santiváñez Abogados represented Electroperu in the case, with a team led by partner Fidel Rocha and counsel José Salcedo, heads of the firm’s arbitration practice.

SMCV was represented by counsel Ramón Vidurrizaga and Jorge Alvarado of Rodrigo, Elías & Medrano.

The case was administered by Lima Chamber of Commerce Arbitration Center.