Overview
- The Ministry of Energy and Mines denied Hidroeléctrica América’s requests to extend deadlines, renew its performance guarantee, and hold a sector meeting via Oficio N°164-2026-MINEM/DGE dated January 27, 2026.
- The company had asked to move commercial operation to June 15, 2029, following Osinergmin reports that the project was behind schedule and unlikely to meet the May 1, 2026 start.
- The ruling keeps the original timetable in force, and failure to comply could lead to caducity of the concession and execution of the performance bond of about US$244,000 (1% of the roughly US$24 million investment).
- The extension request was filed on December 23–24, 2025, three days before an unregistered December 26 meeting between President José Jerí and project head Zhihua Yang, which is now cited in a vacancia motion and oversight summons.
- Hidroeléctrica América attributes delays to community opposition, a claim local authorities in Pacobamba dispute, while the Presidency separately confirmed a maintenance contract with Yang-linked Nuctech for Government Palace security equipment.