The payment marks the formal conclusion of a case that traces back to an October 2023 tribunal ruling by the International Centre for Settlement of Investment Disputes. The original award required Peru to cover $110.7 million in damages alongside $6.4 million in fees and interest, a requirement upheld even after the state attempted to annul the decision.
Kenon’s net intake was shaped by a prior agreement with a capital provider, which financed the legal pursuit of these claims in exchange for a portion of the final proceeds. The company, which maintains a 46% stake in power operator OPC, indicated that this settlement represents the end of its recovery efforts against the Republic of Peru regarding this specific matter.
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