JGC Corporation v. Spain, ICSID Case No. ARB/15/27
- >Claimant : JGC Corporation
- >Nationality : Japan
- >Respondent : Spain
- >Procedural rules applied :
ICSID
- >Chair :
Hi-Taek Shin
- >Arbitrator appointed by Claimant :
August Reinisch (Rudolf Dolzer replaced)
- > Arbitrator appointed by Claimant :
Rudolf Dolzer
- >Arbitrator appointed by Respondent :
Mónica Pinto
- >Invoked instruments :
ECT
- >Breaches found :(10.1) Fair and equitable treatment
- >Case status :
Award rendered
- >Year of the award or agreement :
2021
- >Follow-on proceedings :
Pending ICSID annulment proceedings
- >Year of registration :
2015
- >Subject matter of the dispute: Legal reforms affecting the renewable energy sector
- >Amount claimed: EUR 161 million
- >Amount awarded: EUR 23.5 million
- >Valuation method: income-based approach (discounted cash flow)
- >Interest rate: pre-award - 2.75%; post-award - 1.6%
- >Costs of arbitration: N/A
- >Award legal costs: Claimant was awarded 40% of legal costs
- >Award costs of arbitration: Respondent bears 75% of the costs