Peru is heading towards a second round of presidential elections in a highly fragmented political landscape. Although the final result is still pending, early counting trends place Keiko Fujimori as the leading candidate, while Rafael López Aliaga emerges as the strongest contender to join her in the runoff.
With 52% of votes counted, the Fuerza Popular leader holds 16.95%, followed by Rafael López Aliaga of Renovación Popular (14.8%) and Jorge Nieto of Partido del Buen Gobierno (12.9%), according to data from the National Office of Electoral Processes (ONPE).
The dispersion of votes in a race featuring 35 candidates confirms the absence of clear majorities and pushes the final decision to 7 June. In this context, not only is the runoff at stake, but also which economic and energy policy approach will shape the next administration.
This scenario brings the structural proposals of the main candidates into sharper focus, with energy policy emerging as a key development driver. The transition towards clean energy sources is present across agendas, albeit with significant differences in scope, pace and role within the power system.
Renewables: expansion, regulation and project pipeline in focus
Keiko Fujimori has set concrete targets to increase the share of non-conventional renewable energy. Her plan aims to raise its contribution from 6% to 20% of the electricity mix, promoting solar PV, wind power, geothermal and biomass technologies.
The candidate also acknowledges a structural challenge related to dependence on imported fuels. Currently, around 75% of the diesel consumed in the country is imported, and her proposal seeks to reduce this figure to 50% through a combination of domestic production and energy diversification.
In parallel, she proposes advancing a National Green Hydrogen Agenda and accelerating rural electrification, particularly in Amazonian and Andean regions where access gaps persist. This approach links energy transition with inclusion and territorial development goals.
However, her roadmap does not exclude strengthening the hydrocarbons sector. Among her initiatives are the promotion of new exploration projects and the creation of a Northern Energy Hub, aimed at consolidating the region as a strategic centre for generation and distribution.
Rafael López Aliaga also incorporates renewable energy into his platform, although with a focus on large-scale developments and exports. His plan prioritises hydropower, solar and wind, alongside the creation of green hydrogen hubs in southern regions such as Arequipa and Moquegua.
This strategy is complemented by an active role for natural gas within the energy mix. It envisions a gradual transition in which renewables expand alongside backup sources to ensure supply stability.
Jorge Nieto, meanwhile, presents a vision centred on leveraging the territorial potential of renewable resources. His approach highlights the high solar irradiation in high Andean regions, proposing its use as a driver for both energy and productive development.
His proposal links electricity generation with local development initiatives and resource management, shaping a decentralised model. Within this framework, clean energy plays a key role not only in the energy mix but also in regional integration.
Regulation and project pipeline: key challenges ahead
Beyond programme differences, one critical issue for the sector will be the regulation of Law 32249, a long-awaited framework expected to unlock investment and provide greater predictability. Its implementation will be decisive in accelerating projects and organising the regulatory landscape.
At the same time, Peru holds a significant pipeline of projects reflecting the sector’s growth potential. There is a commitment to add 13 solar plants totalling 2,243 MW by 2028, while the overall portfolio includes 105 approved projects amounting to 23,077 MW. However, only 15 currently have a Definitive Generation Concession, highlighting ongoing execution challenges.
The power system is expanding, though still limited in non-conventional renewables. Installed capacity currently stands at 1,021.3 MW of wind and 734.2 MW of solar, with projections pointing to substantial growth by 2030, when solar PV is expected to reach 2,861.5 MW and wind power 1,641.6 MW.
With the electoral outcome still uncertain, the next government will play a decisive role in turning this potential into installed capacity. The combination of regulatory signals, project execution and investment conditions will determine Peru’s position in the regional energy landscape in the coming years.
