Spain

Tribunal rules in favour of claimants in another Spanish solar dispute; Dissenting arbitrator argues that tribunal nonetheless over-emphasized Spain’s “right to regulate”

In another renewables case against Spain, an ICSID tribunal awarded over EUR 28 million to two subsidiaries of the German company RWE (jointly, RWE).

Spain’s Renewable Energy Saga: Lessons for international investment law and sustainable development

Spain has faced approximately 40 arbitrations since it made the decision in 2010 to rescind or revise various regulatory measures aimed at drawing in greater investments into renewable energy projects. This article examines the awards issued in four of those cases, looking in particular at how the tribunals interpreted and applied the FET standard. The author looks at the potential problems that can emerge when states are unsure of how any given tribunal may interpret FET or other key standards and presents some potential solutions.

Investor Due Diligence and the Energy Charter Treaty

The Energy Charter Treaty modernization negotiations are due to begin later this year and a set of topics for parties to consider has already been announced. This piece examines the prospects for updating the ECT’s existing formulation of FET and analyzes how this standard has been interpreted in past arbitrations involving renewable energy disputes. The author argues in favour of including a requirement of investor due diligence as an attempt to help ensure that investors anticipate possible risks that may emerge from changes to a state’s regulatory framework.

Awards  |  December 21, 2018

Achmea judgment analyzed and FET claim granted in ECT case against Spain

FORESIGHT LUXEMBOURG SOLAR 1 S.À.R.L., FORESIGHT LUXEMBOURG SOLAR 2 S.À.R.L., GREENTECH ENERGY SYSTEMS A/S, GWM RENEWABLE ENERGY I S.P.A. AND GWM RENEWABLE ENERGY II S.P.A. V. THE KINGDOM OF SPAIN, SCC ARBITRATION V (2015/150)

ITN  |  October 18, 2018

Maffezini v. Spain

Emilio Agustín Maffezini v. Kingdom of Spain, ICSID Case No. ARB/97/7 (Decision on Jurisdiction) (Originally published in 2011 in International Investment Law and Sustainable Development: Key cases from 2000–2010; republished on this […]

ITN  |  October 18, 2018

Eiser v. Spain

Eiser Infrastructure Limited and Energia Solar Luxembourg S.à.r.l v. Kingdom of Spain, ICSID Case No. ARB/13/36 (Published in 2018 in International Investment Law and Sustainable Development: Key cases from the […]

Awards  |  November 26, 2015

Tribunal largely adopts independent expert’s damages findings in USD 405 million award to previous owners of an Argentine public utility company

Suez, Sociedad General de Aguas de Barcelona S.A., and InterAguas Servicios Integrales del Agua S.A. v. The Argentine Republic, ICSID Case No. ARB/03/17; and AWG Group Ltd. v. The Argentine Republic, UNCITRAL