2016
Infracapital v. Spain
Infracapital F1 S.à r.l. and Infracapital Solar B.V. v. Kingdom of Spain
(ICSID Case No. ARB/16/18)
Spain
Luxembourg
Netherlands
Netherlands
Investments in photovoltaic plants.
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)
Nunes Pinto, J. E. (replaced)
Cameron, P. D.
González García, L.
Siqueiros, E.
Decided in favour of investor
50.70 mln EUR (55.70 mln USD)
24.90 mln EUR (27.40 mln USD)
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Full protection and security, or similar
Umbrella clause
Arbitrary, unreasonable and/or discriminatory measures
Other
Full protection and security, or similar
Umbrella clause
Arbitrary, unreasonable and/or discriminatory measures
Other
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
ICSID annulment proceedings
ICSID annulment proceedings
Pending
None
https://icsid.worldbank.org/en/Pages/cases/casedetail.aspx?CaseNo=ARB/16/18
http://www.energycharter.org/what-we-do/dispute-settlement/investment-dispute-settlement-cases/96-infracapital-f1-sa-rl-and-infracapital-solar-bv-v-spain/
http://www.iareporter.com/articles/brazilian-tapped-to-chair-energy-charter-treaty-arbitration/ (requires subscription)
https://globalarbitrationreview.com/article/uk-fund-wins-damages-in-spain-solar-case (requires subscription)
https://www.iareporter.com/articles/analysis-infracapital-v-spain-quantum-award-examines-proper-way-to-compensate-both-failure-to-achieve-reasonable-rate-of-return-and-clawback-component-of-spains-2013-2014-renewable-energy-i/ (requires subscription)
http://www.energycharter.org/what-we-do/dispute-settlement/investment-dispute-settlement-cases/96-infracapital-f1-sa-rl-and-infracapital-solar-bv-v-spain/
http://www.iareporter.com/articles/brazilian-tapped-to-chair-energy-charter-treaty-arbitration/ (requires subscription)
https://globalarbitrationreview.com/article/uk-fund-wins-damages-in-spain-solar-case (requires subscription)
https://www.iareporter.com/articles/analysis-infracapital-v-spain-quantum-award-examines-proper-way-to-compensate-both-failure-to-achieve-reasonable-rate-of-return-and-clawback-component-of-spains-2013-2014-renewable-energy-i/ (requires subscription)