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
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)
Hafez, K. (Member)
Zhang, Y. (Member)
https://icsid.worldbank.org/en/Pages/cases/casedetail.aspx?CaseNo=ARB/14/12&tab=PRO
http://www.energycharter.org/what-we-do/dispute-settlement/investment-dispute-settlement-cases/53-infrared-environmental-infrastructure-gp-ltd-et-al-v-spain/
http://globalarbitrationreview.com/news/article/32872/%20spain-again-seventh-renewables-claim-icsid/ (requires subscription)
http://www.iareporter.com/articles/20150121_3 (requires subscription)
http://www.iareporter.com/articles/20140604_1 (requires subscription)
http://economia.elpais.com/economia/2014/06/04/actualidad/1401869750_451282.html
https://www.ecestaticos.com/file/d88ce7a07265dbf8d809b453b848f239/1514204320-186-881-tribunals-arbitratge.pdf
https://globalarbitrationreview.com/article/1211913/spain-challenges-solar-award (requires subscription)
https://www.iareporter.com/articles/three-are-in-place-to-hear-spains-bid-to-annul-unfavourable-infrared-solar-award/ (requires subscription)
http://www.energycharter.org/what-we-do/dispute-settlement/investment-dispute-settlement-cases/53-infrared-environmental-infrastructure-gp-ltd-et-al-v-spain/
http://globalarbitrationreview.com/news/article/32872/%20spain-again-seventh-renewables-claim-icsid/ (requires subscription)
http://www.iareporter.com/articles/20150121_3 (requires subscription)
http://www.iareporter.com/articles/20140604_1 (requires subscription)
http://economia.elpais.com/economia/2014/06/04/actualidad/1401869750_451282.html
https://www.ecestaticos.com/file/d88ce7a07265dbf8d809b453b848f239/1514204320-186-881-tribunals-arbitratge.pdf
https://globalarbitrationreview.com/article/1211913/spain-challenges-solar-award (requires subscription)
https://www.iareporter.com/articles/three-are-in-place-to-hear-spains-bid-to-annul-unfavourable-infrared-solar-award/ (requires subscription)