Region: Spain

Spain marks 50th renewables claim as new reforms roil investors

Spain has been hit with its 50th treaty claim from renewable energy investors and a fresh US enforcement action, as surprise reforms to the sector announced last week raise the prospect of yet more claims.

21 September 2021

Spain partly liable over solar reforms

Another ICSID tribunal has found Spain partly liable under the Energy Charter Treaty for reforms to its renewable energy regime, ruling that investors were entitled to a reasonable rate of return but had no unalterable right to a fixed tariff.

15 September 2021

Spain ordered to pay German solar investor

An ICSID tribunal has ordered Spain to pay nearly €28 million to a German investor, nearly a year after finding that reforms to the country’s renewable energy subsidy regime frustrated the claimant’s legitimate expectations.

18 August 2021

Spain faces yet another renewables claim

Two Irish funds have become the latest of dozens of investors to file an Energy Charter Treaty claim against Spain over reforms to its subsidy regime for renewable energy.

04 August 2021

Spain fails to overturn solar award

Spain has failed to overturn a €101 million Energy Charter Treaty award won by solar investors that has recently become the subject of a European Commission state aid probe – as another investor whose award was annulled due to an arbitrator conflict files a resubmitted claim.

03 August 2021

Peruvian contractor defends lawyers accused of “switching sides”

A Peruvian contractor has hit back at allegations that its victory in an ICC dispute over a refinery project was tainted by two lawyers’ move to a different law firm, calling it “nothing more than an eleventh hour tantrum”.

03 August 2021

Solar award triggers EU state aid probe

The European Commission says it has begun an in-depth investigation to assess whether a €101 million Energy Charter Treaty award requiring Spain to compensate investors for changes to its renewable energy subsidy regime accords with EU state aid rules.

19 July 2021

Lone Star brings ICC claim against Spanish bank

US private equity group Lone Star Funds is pursuing an ICC claim against Spain’s third-largest bank to compel it to repurchase €257 million in real estate assets.

15 July 2021

Spain hit with another solar award

Investors in three solar power plants have been awarded €47 million in an Energy Charter Treaty claim against Spain concerning reforms to the subsidy regime for renewable energy.

28 June 2021

Repsol again liable in multibillion North Sea oil venture dispute

Repsol has for a second time been held liable in a US$5.5 billion SIAC claim lodged by China’s Sinopec group over the purchase of a stake in a North Sea oil venture, although several other claims were dismissed in the latest partial award.

29 April 2021

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