InfraRed Environmental Infrastructure GP Limited and others v. Spain, ICSID Case No. ARB/14/12
- >Claimant : InfraRed Environmental Infrastructure GP Limited; European Investments (Morón) 1 Limited; European Investments (Morón) 2 Limited; European Investments (Olivenza) 1 Limited; European Investments (Olivenza) 2 Limited
- >Nationality : UK, UK, UK, UK, UK
- >Respondent : Spain
- >Procedural rules applied :
ICSID
- >Chair :
Stephen Drymer
- >Arbitrator appointed by Claimant :
William Park
- >Arbitrator appointed by Respondent :
Pierre-Marie Dupuy
- >Invoked instruments :
ECT
- >Articles mentioned :
Article 36 (1)
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, Article 36 (7)
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, Article 26 (1)
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, Article 26 (4)
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, Article 26 (6)
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, Article 21 (7)
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, Article 21 (5)
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, Article 21 (3)
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, Article 21 (1)
-
, Article 13 (1)
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, Article 10 (7)
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, Article 10 (2)
-
, Article 10 (1)
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, Article 1 (2)
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, Article 1 (10)
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, Article 2
-
, Article 10
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, Article 13
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, Article 16
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, Article 18
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, Article 25
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, Article 26
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, Article 46
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>Breaches alleged :
- > Breaches alleged :
- > Breaches alleged :
- > Breaches alleged :
- > Breaches alleged :
- >Breaches found :(10.1) Fair and equitable treatment
- >Case status :
Award rendered
- >Year of the award or agreement :
2019
- >Follow-on proceedings :
Pending ICSID annulment proceedings
- >Year of registration :
2014
- >Subject matter of the dispute: Legal reforms affecting the renewable energy sector
- >Amount claimed: EUR 75.7 million
- >Amount awarded: EUR 28.2 million
- >Valuation method: income-based approach (discounted cash flow)
- >Interest rate: host State's sovereign bonds (10-year)
- >Costs of arbitration: USD 1,285,515.4
- >Award legal costs: Claimants were awarded 66.66% of the legal costs
- >Award costs of arbitration: Costs follow the award
ARBITRAL DECISION
