Peña says he is Paraguay’s “chief negotiator” in new Itaipu agreement with Brazil, President Santiago Peña affirmed that he is Paraguay’s “chief negotiator” in the process of revising Annex C of the Itaipu Treaty with Brazil. The summit between Peña and Lula da Silva in March 2026 represented a necessary step to avoid paralysis in the bilateral relationship and to redirect the dialogue on the future of Itaipu. Paraguay hopes to sell its surplus energy on the Brazilian open market and, in the long term, to domestic industries.