ICSID, 15 June 2018, Antin Infrastructure Services Luxembourg SARL and Antin Energia Termosolar B.V. v. The Kingdom of Spain, no. ARB/13/31, Award

On 15 June 2018, an arbitral tribunal awards investors, under the Energy Charter Treaty (“ECT”), 112 million euros as compensation for their claim relating to reforms undertaken in the renewable energy sector in Spain. First, the arbitral tribunal rejects Respondents’ intra-European Union (“EU”) objections to its jurisdiction. It considers that Claimants are qualified as “investors [...]

2018-07-02T16:04:08+02:00June 15th, 2018|ICSID, International awards|0 Comments

SCC, 15 February 2018, Novenergia II – Energy & Environment (SCA) (Grand Duchy of Luxembourg), SICAR v. The Kingdom of Spain, no. 2015/063

Novenergia, an investment fund in Luxembourg, invested in eight photovoltaic plants in the Kingdom of Spain in 2007. It did so relying on the country’s explicit offer in its regulatory framework of a fixed long-term price for energy. However, subsequent regulations retroactively repealed this framework. Norvenergia initiated arbitration proceedings before the Stockholm Chamber of Commerce [...]

2018-03-04T22:54:49+01:00February 15th, 2018|International awards, SCC|0 Comments
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