Maria del Carmen Tovar

María del Carmen Tovar

Estudio Echecopar


Maria del Carmen Tovar has participated in the process to promote private investment in companies and concessions both as counsel to the government and to bidders. She is recognized for her extensive knowledge of processes and contracts involving the State. She regularly acts as counsel in national and international arbitrations related to investments and public services and public works. She acts for and against states and state bodies, with particular experience in the energy sector and large infrastructure projects. She has acted on investor-state disputes under ICSID, UNCITRAL Arbitration Rules. She often advises investors on treaty planning.

Practice Focus

Maria has practical experience in concession agreements, government contracts and public service regulations. She has participated in processes for the promotion of company investments and concessions, representing both the state and bidders. Maria regularly acts as an arbitration lawyer in relation to investment claims, public services, and construction agreements.

Representative Legal Matters

  • Advised Republic of Peru. One of the largest investment arbitrations that Peru has dealt with. First arbitration under the Investment Chapter of the Peru – United States Free Trade Agreement. The case is related with the operations of Doe Run Peru´s Metallurgical Complex at La Oroya, in Peru and environmental matters. On July 15, 2016, the Tribunal issued a partial award rejecting all of Claimant´s claims for lack of jurisdiction since Renco presented an invalid waiver under Investment Chapter of the Peru – US FTA. Then, on November 9, 2016 the Tribunal issued a Final Award on costs.
  • Advised Republic of Peru. ICSID arbitration under the Peru – United Kingdom BIT related to the South Pier Concession Contract (South Pier) and alleged unfair competition with the North Pier Concession Contract (North Pier) of the Callao Port. Claimants´ claim breach of fair and equitable treatment, discrimination and indirect expropriation for not been able to participate in the North Pier public tender for competition reasons.
  • Advised the Ministry of Energy and Mines in the first international investment dispute against the Republic of Peru that has been settled during the amicable settlement period –before the initiation of the international investment arbitration before the International Centre for Settlement of Investment Disputes (ICSID)–. It must be highlighted that the execution of this settlement by the Ministry of Energy and Mines, required the approval of the Ministry of Economic and Finance and the President of the Minister´s Counsel. This matter sets a precedent regarding the Peruvian Government willingness to solve controversies using settlements before arbitrations.
  • Advised Amazonas Energia S.A.C, an SPV formed by Construtora Andrade Gutierrez, in the development of the Lorena Hydroelectric Power Project in the Marañon river. It is estimated that the capacity of the project will exceed 400 MW –after some adjustments in the project development stage.
  • Issued a legal opinion on the interpretation of the BOOT Concession Agreement, executed by REP and the Ministry of Energy and Mines, regarding a controversy about the technical specifications of the isolators used to build both Transmission Line 500 KV Mantaro–Marcona–Socabaya–Montalvo and Transmission Line 220 kV Friaspata– Mollespata, two of the most important transmission lines part of the Peruvian Guaranteed Transmission System (trunk transmission system).

Professional Associations and Memberships

  • Lima Bar Association - Member
  • Sociedad Peruana de Derecho de la Construccion - Member


  • Peru (1985)


  • Pontificia Universidad Católica del Perú (Master's Degree International Economic Law) (2003)
  • Universidad de Salamanca Spain (Diploma in Corporate Counseling) (1996)
  • University of Complutense de Madrid (Diploma Legal Advice for enterprises) (1985)
  • Pontificia Universidad Católica del Perú (Law Degree) (1984)


  • English
  • Spanish