Region: Spain

Japanese wind investor wins damages over Spanish reforms

A Japanese wind farm investor has won €106.2 million in the latest Energy Charter Treaty award against Spain over reforms to its renewables sector, as the state is threatened with an ECT claim by the developer of a uranium project.

22 November 2022

Spain announces withdrawal from ECT

Spain says it is withdrawing from the Energy Charter Treaty because of climate concerns, a week after the lower chamber of Poland’s parliament voted near-unanimously to exit the treaty.

13 October 2022

Mexican utility liable in LCIA dispute over power plant

An LCIA tribunal has ordered Mexico’s state-owned electric utility to pay US$22 million to a consortium of Spanish construction companies for cost overruns at a power plant project – as details emerge of a separate award issued against the utility last year.

04 October 2022

Portuguese investor gets damages in Spain solar case

An ICSID tribunal has ordered Spain to pay €9 million plus interest to a Portuguese investor over reforms to its renewable energy subsidy regime.

30 September 2022

Madrid to host ICCA in 2026

Madrid is to host the 27th ICCA Congress in 2026, beating rival bids from Dubai, Kigali and Vancouver.

19 September 2022

Spain liable in another solar case

An ICSID tribunal has ruled Spain must compensate a group of German investors for reforms to its renewable energy subsidy regime, while other disputes over the same measures have seen failed reconsideration requests and an unsuccessful enforcement bid in Colombia.

16 September 2022

German wind investor takes Spain award to US court

German conglomerate BayWa has asked a US court to enforce €22 million Energy Charter Treaty award against Spain compensating it for measures affecting its wind power investments.

18 August 2022

“Side-switching” challenge rejected on appeal

A Spanish contractor has failed in a renewed bid to overturn a US$40 million ICC award over a Peruvian refinery on the basis that two members of its counsel team joined the opposing side’s law firm while the arbitration was pending – as a separate dispute over a US$1 billion project in Algeria gets underway.

27 July 2022

Bolivia ordered to complete nationalisation of pension fund

An ICSID additional facility tribunal has ordered Bolivia to pay US$105 million and complete its acquisition of a Spanish banking group’s pension fund administrator, finding the investor had been held “hostage” by delays to the 12-year nationalisation process.

15 July 2022

Madrid utility threatens Colombia over corruption investigation

A publicly owned Madrid water utility has threatened Colombia with an investment treaty claim after its assets were frozen as part of a corruption investigation – a dispute that has already seen the Spanish government intervene.

13 July 2022

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