2014
InfraRed and others v. Spain InfraRed Environmental Infrastructure GP Limited and others v. Kingdom of Spain (ICSID Case No. ARB/14/12)
Spain
United Kingdom
Equity participations in two concentrated solar projects in Spain, located in Andalucía and Extremadura.
Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Tertiary: D - Electricity, gas, steam and air conditioning supply
35 - Electricity, gas, steam and air conditioning supply
ICSID (International Centre for Settlement of Investment Disputes)
ICSID (International Centre for Settlement of Investment Disputes)
Drymer, S. L.
Park, W. W.
Dupuy, P.-M.
Decided in favour of investor
75.70 mln EUR (83.70 mln USD)
28.20 mln EUR (31.20 mln USD)
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Arbitrary, unreasonable and/or discriminatory measures

Indirect expropriation

Umbrella clause
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
ICSID annulment proceedings
ICSID annulment proceedings
Pending
None
Júdice, J. M. (President)

Hafez, K. (Member)

Zhang, Y. (Member)