SolEs Badajoz GmbH v. Spain, ICSID Case No. ARB/15/38

  • >Claimant : SolEs Badajoz GmbH
  • >Nationality : Germany
  • >Respondent : Spain
  • >Procedural rules applied : ICSID
  • >Chair : Joan Donoghue
  • >Arbitrator appointed by Claimant : David Williams (Stanimir Alexandrov replaced)
  • >Arbitrator appointed by Respondent : Giorgio Sacerdoti (Anna Joubin-Bret replaced)
  • >Invoked instruments : ECT
  • >Articles mentioned : Article 26 (1)
  • , Article 26 (2)
  • , Article 26 (3)
  • , Article 26 (6)
  • , Article 21 (7)
  • , Article 21 (5)
  • , Article 16 (2)
  • , Article 13 (1)
  • , Article 1 (2)
  • , Article 1 (3)
  • , Article 1 (7)
  • , Article 1 (10)
  • , Article 1
  • , Article 13
  • , Article 16
  • , Article 21
  • , Article 25
  • , Article 26
  • >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 : 2015

  • >Subject matter of the dispute: Legal reforms affecting the renewable energy sector
  • >Amount claimed: EUR 95.8 million
  • >Amount awarded: EUR 40.98 million
  • >Valuation method: income-based approach (discounted cash flow)
  • >Interest rate: host State's sovereign bonds (10-year)
  • >Costs of arbitration: USD 714,012.15
  • >Award legal costs: Each party bears its own legal costs 
  • >Award costs of arbitration: Costs follow the award

 

ARBITRAL DECISION 

31 July 2019 

Award

RECTIFICATION PROCEEDINGS

5 December 2019 - Decision on the Rectification of the Award

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