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As of 1 June 2022, the Secretariat is aware of 150 investment arbitration cases instituted under the Energy Charter Treaty (sometimes invoked together with a bilateral investment treaty). A full list with information is available here

Since parties to investment arbitration under Article 26 ECT are not obliged to notify the Secretariat of the existence or substance of their dispute, some awards (and even the existence of some proceedings) remain confidential. The Secretariat compiles information (which cannot be considered as exhaustive) from delegates and public sources (including specialized reporting services such as Global Arbitration Review (GAR), Investment Arbitration Reporter (IAReporter) and ItaLaw). The Secretariat assumes no responsibility for eventual errors or omissions in these data and welcomes any additional information or clarification on specific cases (at legalaffairs@encharter.org or using the online contact form). Some case reports prepared by TDM/IACL can be found here. 

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There are 150 result(s)

 CEF Energia B.V. v. Italy, SCC Case No. 158/2015 

  • > Subject matter of the dispute: Legal reforms affecting the renewable energy sector
  • > Amount claimed: EUR 10.3 million
  • > Amount awarded: EUR 9.6 million
  • > Valuation method: income-based approach (discounted cash flow)
  • > Interest rate: LIBOR (12-month) + 2%
  • > Costs of arbitration: EUR 589 276.07
  • > Award legal costs: Claimant was awarded EUR 900,000
  • > Award costs of arbitration: Respondent bears its own share of costs of arbitration and EUR 100,000 of the the claimant's share

 

ARBITRAL DECISION

16 January 2019

Award

  

ANNULLMENT PROCEEDINGS

28 March 2019 - Decision of the Svea Court of Appeal (unofficial translation)

24 April 2019 - Decision of the Svea Court of Appeal (unofficial translation)


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 Novenergia II - Energy & Environment (SCA) (Grand Duchy of Luxembourg), SICAR v. Spain, SCC Case No. 2015/063 

  • > Subject matter of the dispute: Legal reforms affecting the renewable energy sector
  • > Amount claimed: EUR 61.3 million
  • > Amount awarded: EUR 53.3 million
  • > Valuation method: income-based approach (discounted cash flow)
  • > Interest rate: host State's sovereign bonds (10-year)
  • > Costs of arbitration: EUR 562,920.96 + SEK 6,867
  • > Award legal costs: Claimant was awarded EUR 2.6 million (including full costs of arbitration)
  • > Award costs of arbitration: Costs follow the award



ARBITRAL DECISION

15 February 2018 

Final Award

 

RECTIFICATION PROCEEDING

9 April 2018                                      

Procedureal Order No. 17

ANNULMENT PROCEEDINGS

16 May 2018 - Decision of the Svea Court of Appeal (Swedish)

25 April 2019 - Decision of the Svea Court of Appeal - Swedish | English (unofficial translation)

27 May 2020 - Decision of the Svea Court of Appeal (unofficial translation)

ENFORCEMENT PROCEEDINGS (United States)

27 January 2020 - Order of the United States District Court for the District of Columbia

27 January 2020 - Memorandum Opinion of the United States District Court for the District of Columbia


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 Foresight Luxembourg Solar 1 S.à.r.l. and others v. Spain, SCC Case No. 2015/150 
  • > Claimant : Foresight Luxembourg Solar 1 S.à.r.l., Foresight Luxembourg Solar 2 S.à.r.l., Greentech Energy System A/S, GWM Renewable Energy l S.P.A., GWM Renewable Energy ll S.P.A.
  • > Nationality : Luxembourg, Luxembourg, Denmark, Italy, Italy
  • > Respondent : Spain
  • > Procedural rules applied : SCC
  • > Chair : Michael Moser
  • > Arbitrator appointed by Claimant : Klaus Sachs
  • > Arbitrator appointed by Respondent : Raul Emilio Vinuesa
  • > Invoked instruments : ECT
  • > Articles mentioned : Article 36 (7)
  • , Article 26 (1)
  • , Article 26 (6)
  • , Article 21 (5)
  • , Article 21 (1)
  • , Article 10 (1)
  • , Article 1 (2)
  • , Article 1 (3)
  • , Article 1 (6)
  • , Article 1 (7)
  • , Article 1 (10)
  • , Article 2
  • , Article 13
  • , Article 16
  • , Article 25
  • > Breaches alleged :  
  • > Breaches found : (10.1) Fair and equitable treatment
  • > Case status : Award rendered
  • > Year of the award or agreement : 2018
  • > Follow-on proceedings : Pending national court decision on annulment
  • > Year of registration : 2015

  • > Subject matter of the dispute: Legal reforms affecting the renewable energy sector
  • > Amount claimed: EUR 50 million
  • > Amount awarded: EUR 39 million
  • > Valuation method: hybrid approach (income-based approach (discounted cash flow) for the "but-for" scenario + market-based approach (completed or imminent arm's length transactions) for the "actual" scenario)  
  • > Interest rate: host State's sovereign bonds (5-year) for pre-award; claimants' cost of borrowing for post-award    
  • > Costs of arbitration: EUR 404,953.21 + USD 18,359.83
  • > Award legal costs: Claimants were awarded EUR 3,900,374.73 + USD 2,9997,596.33 (including full costs of arbitration) 
  • > Award costs of arbitration: Costs follow the award

 

ARBITRAL DECISION

14 November 2018

Final Awar and Partial Dissention Opinion of Co-Arbitrator Raúl E. Vinuesa 

ENFORCEMENT PROCEEDINGS (United States)

30 March 2020 - Opinion and Order of the United States District Court for the Southern District of New York


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 Solarpark Management GmbH & co and Atum I KG v. Spain, SCC Case No. 2015/163 
  • > Claimant : Solarpark Management GmbH & Co, Atum I KG
  • > Nationality : Germany
  • > Respondent : Spain
  • > Procedural rules applied : SCC
  • > Invoked instruments : ECT
  • > Case status : Discontinued
  • > Year of the award or agreement : 2016
  • > Year of registration : 2015

  • > Subject matter of the dispute: Legal reforms affecting the renewable energy sector
  • > Amount claimed: EUR 6.1 million
  • > Amount awarded: N/A
  • > Costs of arbitration: N/A
  • > Award legal costs: N/A
  • > Award costs of arbitration: N/A


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 Eurus Energy Holdings Corporation and Eurus Energy Europe B.V. v. Spain, ICSID Case No. ARB/16/4 
  • > Claimant : Eurus Energy Holdings Corporation, Eurus Energy Europe B.V.
  • > Nationality : Japan, Netherlands
  • > Respondent : Spain
  • > Procedural rules applied : ICSID
  • > Chair : Anne Hoffmann (James Crawford replaced)
  • James Crawford
  • > Arbitrator appointed by Claimant : Oscar Garibaldi
  • > Arbitrator appointed by Respondent : Andrea Giardina
  • > Invoked instruments : ECT
  • > Articles mentioned : Article 27 (2)
  • , Article 26 (1)
  • , Article 26 (2)
  • , Article 26 (3)
  • , Article 21 (7)
  • , Article 21 (5)
  • , Article 21 (1)
  • , Article 13 (1)
  • , Article 10 (1)
  • , Article 1 (6)
  • , Article 2
  • , Article 9
  • , Article 10
  • , Article 13
  • , Article 16
  • , Article 21
  • , Article 26
  • > Breaches alleged :  
  • > Breaches found : (10.1) Fair and equitable treatment
  • > Case status : Pending
  • > Year of registration : 2016

  • > Subject matter of the dispute: Legal reforms affecting the renewable energy sector
  • > Amount claimed: EUR 173 million 
  • > Amount awarded: N/A
  • > Costs of arbitration: N/A
  • > Award legal costs: N/A
  • > Award costs of arbitration: N/A

 

ARBITRAL DECISION 

17 March 2021 

Decision on Jurisdiction and Liability


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 ESPF Beteiligungs GmbH, ESPF Nr. 2 Austria Beteiligungs GmbH and InfraClass Energie 5 GmbH & Co. KG v. Italy, ICSID Case No. ARB/16/5 
  • > Claimant : ESPF Beteiligungs GmbH, ESPF Nr. 2 Austria Beteiligungs GmbH, InfraClass Energie 5 GmbH & Co. KG
  • > Nationality : Germany, Austria, Germany
  • > Respondent : Italy
  • > Procedural rules applied : ICSID
  • > Chair : Henri Álvarez
  • > Arbitrator appointed by Claimant : Michael Pryles
  • > Arbitrator appointed by Respondent : Laurence Boisson de Chazournes
  • > Invoked instruments : ECT
  • > Articles mentioned : Article 26 (1)
  • , Article 26 (2)
  • , Article 26 (3)
  • , Article 26 (4)
  • , Article 26 (6)
  • , Article 21 (7)
  • , Article 16 (2)
  • , Article 16 (1)
  • , Article 10 (1)
  • , Article 1 (6)
  • , Article 1 (7)
  • , Article 1
  • , Article 10
  • , Article 13
  • , Article 16
  • , Article 21
  • , Article 24
  • , Article 25
  • , Article 26
  • > Breaches alleged :  
  • > Breaches found : (10.1) Unreasonable or discriminatory measures
  • (10.1) Umbrella clause
  • (10.1) Fair and equitable treatment
  • > Case status : Award rendered
  • > Year of the award or agreement : 2020
  • > Year of registration : 2016

  • > Subject matter of the dispute: Legal reforms affecting the renewable energy sector
  • > Amount claimed: EUR 28.6 million
  • > Amount awarded: EUR 16 million
  • > Valuation method: income-based approach (discounted cash flow)
  • > Interest rate: annual EURIBOR + 4%
  • > Costs of arbitration: USD 913,142.58
  • > Award legal costs: Claimants were awarded EUR 1,758,577 (60% of legal costs)
  • > Award costs of arbitration: Costs follow the award 

 

ARBITRAL DECISION

14 September 2020

Award


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 ENGIE S.A., GDF International S.A.S. and ENGIE International Holdings B.V. v. Hungary, ICSID Case No. ARB/16/14 
  • > Claimant : ENGIE S.A., GDF International S.A.S., ENGIE International Holdings B.V.
  • > Nationality : France, France, Netherlands
  • > Respondent : Hungary
  • > Procedural rules applied : ICSID
  • > Chair : Klaus Sachs
  • > Arbitrator appointed by Claimant : David Williams
  • > Arbitrator appointed by Respondent : Piero Bernardini
  • > Invoked instruments : ECT
  • > Case status : Discontinued
  • > Year of the award or agreement : 2018
  • > Year of registration : 2016

  • > Subject matter of the dispute: Shareholding in gas companies, gas tariffs and taxation
  • > Amount claimed: N/A
  • > Amount awarded: N/A
  • > Costs of arbitration: N/A
  • > Award legal costs: N/A
  • > Award costs of arbitration: N/A


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 Gilatz Spain S.L., Aharon Naftali Biram, Redmill Holdings Ltd., and Sun-Flower Olmeda GmbH v. Spain, ICSID Case No. ARB/16/17 
  • > Claimant : Gilatz Spain S,L,, Aharon Naftali Biram, Redmill Holdings Ltd,, Sun-Flower Olmeda GmbH
  • > Nationality : Spain, Germany, UK, Germany
  • > Respondent : Spain
  • > Procedural rules applied : ICSID
  • > Chair : Christopher Greenwood
  • > Arbitrator appointed by Claimant : Thomas Johnson
  • > Arbitrator appointed by Respondent : Marcelo Kohen (Piero Bernardini replaced)
  • > Invoked instruments : ECT
  • > Case status : Award rendered
  • > Year of the award or agreement : 2021
  • > Follow-on proceedings : Pending ICSID annulment proceedings
  • > Year of registration : 2016

  • > Subject matter of the dispute: Legal reforms affecting the renewable energy sector
  • > Amount claimed: EUR 68 million
  • > Amount awarded: EUR 47.3 million
  • > Costs of arbitration: N/A
  • > Award legal costs: N/A
  • > Award costs of arbitration: N/A 


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 Infracapital F1 S.à.r.l. and Infracapital Solar B.V. v. Spain, ICSID Case No. ARB/16/18 

  • > Subject matter of the dispute: Legal reforms affecting the renewable energy sector
  • > Amount claimed: N/A
  • > Amount awarded: N/A
  • > Costs of arbitration: N/A 
  • > Award legal costs: N/A
  • > Award costs of arbitration: N/A 

 

ARBITRAL DECISION

13 September 2021

Decision on Jurisdiction, Liability and Directions on Quantum


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 ČEZ, a.s. v. Bulgaria, ICSID Case No. ARB/16/24 
  • > Claimant : ČEZ, a.s.
  • > Nationality : Czech Republic
  • > Respondent : Bulgaria
  • > Procedural rules applied : ICSID
  • > Chair : Pierre Tercier
  • > Arbitrator appointed by Claimant : Julian Lew
  • > Arbitrator appointed by Respondent : Donald McRae
  • > Invoked instruments : ECT
  • > Case status : Pending
  • > Year of registration : 2016

  • > Subject matter of the dispute: Electricity supply and distribution operations
  • > Amount claimed: N/A
  • > Amount awarded: N/A 
  • > Costs of arbitration: N/A 
  • > Award legal costs: N/A
  • > Award costs of arbitration: N/A 

 

ARBITRAL DECISION

2 March 2021 - Decision on Jurisdiction

 


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