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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