Solar Award Against Spain Confirmed in NY, Spain Moves for Annulment
The ICSID award in case Eiser Infrastructure Limited and Energía Solar Luxembourg SARL v. Kingdom of Spain, case number ARB/13/36, concluding that Spain had violated the Energy Charter Treaty, has been recognized on an ex parte petition by a New York court on June 27. Further information can be found here, edited by K. Duncan.
The award was issued on May 4 by an International Centre for Settlement of Investment Disputes tribunal after it unanimously determined that Spain had violated its international obligations to the companies by upending a series of subsidies aimed at encouraging investment in the renewable energy sector, several years after the companies sunk more than €126 million into three solar plants. The award also includes additional interest.
The case is EISER Infrastructure Limited et al v. Kingdom of Spain, case number 1:17-cv-03808, in the U.S. District Court for the Southern District of New York. Spain is seeking annulment of the decision for violation of the FSIA (1976).