First ICSID award against Germany

A power plant and wind turbines operate near a green field.

Strabag and its co-claimants, Erste and Zweite Nordsee-Offshore Holding, have filed a petition in the U.S. District Court for the District of Columbia to enforce a €240 million ICSID award against Germany—the first ICSID award ever issued against Germany and, notably, the first intra-EU award under the Energy Charter Treaty (ECT) against the state. The underlying dispute concerns Germany’s regulatory overhaul of its offshore wind energy sector, which the tribunal found breached the investors’ legitimate expectations and resulted in a creeping expropriation of their projects. The petition seeks recognition and enforcement of the award under the U.S. Foreign Sovereign Immunities Act, following Germany’s unsuccessful request to stay enforcement during ongoing ICSID rectification proceedings.