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Fine of 128 million to Spain for the cut of renewables

Fine of 128 million to Spain for the cut of renewables

The International Center for the Settlement of Investment Disputes (ICSID) has fined Spain 128 million euros for cutting premiums for renewable energy. Thus, he agrees with a British fund, Eiser Infrastructure and its subsidiary EnergĂ­a Solar Luxemburg, which had filed a claim against the Spanish government in December 2013 for the cuts applied since 2010 to renewable energy.

The Government is studying to appeal the ICSID award that partially estimates the demand of Eiser Infrastructure. According to the Ministry of Energy, the award refers only to the impact that the reform carried out by the Government had on the plaintiffs' three thermosolar plants, which the court considers excessive, so it can extrapolate us to other facilities or constitute a binding precedent. .

ICSID has decided to fine Spain 128 million euros, plus interest, compared to the more than 300 million that the plaintiffs claimed. The ministry stresses that the court does not question Spain's sovereign right to take regulatory measures on renewable energy.

Spain has about thirty similar claims pending.

The Plural


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