PDF Statistics
Updated on 1 December 2023
Number of Arbitration Cases under the ECT: 162 cases
Procedural Rules Applied: 162 cases
Respondents: 162 cases
Nationality of Claimants: 162 cases*
* In case of double nationality of a claimant, both nationalities are taken into account.
A case may be instituted by more than one claimant.
* 51 cases are still pending and in some of the cases, there is no publicly available information on the exact amounts claimed and/or awarded; one case involves more than one form of energy sources.
** In six cases, it has not been possible to identify particular energy sources.
*** Excluding tax gross-up and interest on damages claimed and awarded.
* In seven cases, it has not been possible to identify particular renewable electricity generation technology employed.
** In two cases, it has not been possible to identify particular solar electricity generation technology employed.
*** In one case, it has not been possible to identify particular sub-sector.
Intra-REIO Cases and Other Cases: 162 cases*
* Cases with mixed claimants are included in both categories. Therefore, the numbers indicated may be higher than the actual number of cases instituted in a given year.
Status of Arbitration Cases under the ECT: 162 cases
Outcome of Final Awards (91), including (4) Settlement Agreements Embodied in Awards*
* Having found the State liable under another international agreement, the tribunal disimissed an alternative claim under the ECT.
Damages Claimed vs Damages Awarded
| Claim | Award | Ratio | |
| Nykomb Synergetics Technology Holding A.B. v. Latvia (16 December 2003) | LVL 7,097,680 + specific performance | LVL 1,600,000 + specific performance | 23% |
| Petrobart Limited v. Kyrgyz Republic (29 March 2005) | USD 4,084,652 | USD 1,130,859 | 27.7% |
| Ioannis Kardassopoulos v. Georgia (3 March 2010) | USD 15,850,137.901 | USD 15.1 million | 95.5% |
| Khan Resources Inc., Khan Resources B.V., and Cauc Holding Company Ltd. v. Mongolia (10 January 2011) | USD 326 million | USD 80 million | 24.5% |
| Remington Worldwide Limited v. Ukraine (28 April 2011) | USD 36 million | USD 4.5 million | 12.5% |
| Anatolie Stati, Gabriel Stati, Ascom Group S.A. and Terra Raf Trans Traiding Ltd. v. Kazakhstan (19 December 2013) | USD 2.6 billion | USD 500 million | 19.2% |
|
Yukos Universal Limited v. Russian Federation (18 July 2014) Hulley Enterprises Limited v. Russian Federation (18 July 2014) Veteran Petroleum Limited v. Russian Federation (18 July 2014) | USD 114.174 billion | USD 50.02 billion | 43.8% |
| EDF International S.A. v. Hungary (4 December 2014) | estim. EUR 300 million | EUR 107 million | 33.3% |
| Aktau Petrol Ticaret A.Ş. v. Kazakhstan (13 November 2017) | USD 150 million | USD 22.7 million | 15.1% |
| Masdar Solar & Wind Cooperatief U.A. v. Spain (16 May 2018) | EUR 260 million | EUR 64.5 million* | 24.8% |
| Antin Infrastructure Services Luxembourg S.à.r.l. and Antin Energia Termosolar B.V. v. Spain (15 June 2018) | EUR 238 million | EUR 101 million | 42.4% |
| Foresight Luxembourg Solar 1 S.à.r.l. and others v. Spain (14 November 2018) | EUR 50 million | EUR 39 million | 78% |
| Greentech Energy Systems A/S, NovEnergia II Energy & Environment (SCA) SICAR, and NovEnergia II Italian Portfolio S.A. v. Italy (23 December 2018) | EUR 25.06 million | EUR 11.9 million | 47.5% |
| CEF Energia B.V. v. Italy (16 January 2019) | EUR 10.3 million | EUR 9.6 million | 93.2% |
| 9REN Holding S.à.r.l. v. Spain (31 May 2019) | EUR 52.2 million | EUR 41.76 million | 80% |
| NextEra Energy Global Holdings B.V. and NextEra Energy Spain Holdings B.V. v. Spain (31 May 2019) | EUR 521.4 million | EUR 290.6 million | 55.7% |
| Cube Energy SCA and others v. Spain (15 July 2019) | EUR 74.1 million | EUR 33.7 million | 45.5% |
| SolEs Badajoz GmbH v. Spain (31 July 2019) | EUR 82 million | EUR 40.5 million | 49.4% |
| InfraRed Environmental Infrastructure GP Limited v. Spain | EUR 75.7 million | EUR 28.2 million | 37.5% |
| OperaFund Eco-Invest SICAV PLC Schwab Holding v. Spain (6 September 2019) | EUR 42 million | USD 29.3 million | 69.8% |
| RREEF Infrastructure (GP) Limited, RREEF Pan-European Infrastructure Two Lux S.à.r.l. v. Spain (11 December 2019) | EUR 441 million | EUR 59.6 million* | 13.5% |
| Watkins Holdings S.à.r.l. and others v. Spain (21 January 2020) | EUR 123.9 million | EUR 77 million | 62.1% |
| The PV Investors v. Spain (28 February 2020) | EUR 1.16 billion | EUR 91.1 million* | 12.7% |
| Hydro Energy 1 S.à.r.l. and Hydroxana Sweden AB v. Spain (5 August 2020) | EUR 132.1 million | EUR 30.9 million | 23.4% |
| ESPF Beteiligungs GmbH, ESPF Nr. 2 Austria Beteiligungs GmbH and InfraClass Energie 5 GmbH & Co. KG v. Italy (14 September 2020) | EUR 28.6 million | EUR 16 million | 56% |
| RWE Innogy GmbH and RWE Innogy Aersa S.A.U. v. Spain (18 December 2020) | EUR 267.7 million | EUR 28 million | 10.5% |
| BayWa r.e. Renewable Energy GmbH and BayWa r.e. Asset Holding GmbH v. Spain (25 January 2021) | EUR 61.9 million | EUR 22 million | 35.5% |
| Sun-Flower Olmeda GmbH & Co KG and others v. Spain (22 June 2021) | EUR 69 million | EUR 47.3 million | 68.5% |
| Yukos Capital S.à.r.l v. Russian Federation (23 July 2021) | USD 2,697,000,000 (loan principal) + contractual interest under loan agreement | USD 2,630,706,272.17 + contractual interest under loan agreement | 97.5% |
| STEAG GmbH v. Spain (17 August 2021) | EUR 79 million | EUR 27.7 million | 35% |
| JGC Holdings Corporation v. Spain (9 November 2021) | EUR 161 million | EUR 23.5 million | 14.6% |
| RENERGY S.à.r.l. v. Spain (6 May 2022) | EUR 141 million | EUR 32.9 million | 23.3% |
| MOL Hungarian Oil and Gas Company Plc v. Croatia (5 July 2022) | USD 1.1 billion | USD 184 million | 16.7% |
| Rockhopper Italia S.p.A., Rockhopper Mediterranean Ltd., and Rockhopper Exploration Plc v. Italy (22 August 2022) | EUR 281.7 million | EUR 190.7 million | 67.7% |
| Cavalum SGPS S.A. v. Spain (29 September 2022) | EUR 59.2 million | EUR 7.4 million | 12.5% |
| Triodos SICAV v. Spain (24 October 2022) | N/A | EUR 10.4 million | N/A |
| Eurus Energy Holdings Corporation v. Spain (14 November 2022) | EUR 173 million | EUR 106.2 million | 61.4% |
| Mercuria Energy Group Ltd. v. Poland (29 December 2022) | PLN 152,862,917.25 + contractual interest under loan agreement | PLN 145,094,420.2 + contractual interest under loan agreement | 95% |
| EDF Energies Nouvelles S.A. v. Spain (1 April 2023) | EUR 52.8 million | EUR 29.6 million | 56% |
| Infracapital F1 S.à.r.l. and Infracapital Solar B.V. v. Spain (2 May 2023) | EUR 50.7 million | EUR 24.9 million | 49.1% |
| Sevilla Beheer B.V. and others v. Spain (22 May 2023) | EUR 38.5 million | EUR 6.8 million | 17.6% |
| Mathias Kruck and others v. Spain (6 October 2023) | EUR 60.5 million | EUR 15 million | 24.8% |
* According to the Ministry for Ecological Transition and Demographic Challenge of Spain, the investors have submitted a waiver under Royal Decree-Law 17/2019, renouncing their right to collect damages in exchange for a new incentive scheme.
Allocation of Costs of Arbitration between Parties: 83 cases*
*Based on cases in which such information is publicly available.
Legal Costs: 83 cases*
*Based on cases in which such information is publicly available.
Type of Claimants: 162 cases*
* A case may be instituted by more than one claimant.
** Listed on Platts Top 250 Global Energy Company Rankings (2022) and/or UNCTAD's World's Top 100 Non-financial MNEs Ranked by Foreign Assets (2021).
Breaches Alleged: 91 cases*
* The remaining 71 cases are not considered due to lack of public information.
Breaches Found: 47 cases
* In case of double nationality of an arbitrator, both nationalities are taken into account.
Choice of Counsel among Respondents*
* Based on 153 cases in which information on respondents’ counsel is publicly available.
State Agency Representing Respondent*
* Based on 110 cases in which respondents were represented by in-house counsel or in-house counsel together with external co-counsel. A respondent may be represented by more than one agency in the same case. The names of the ministries may vary in different states.
Choice of Counsel among Claimants*
* Based on 156 cases in which information on claimants’ counsel is publicly available.
Law Firms and Barristers' Chambers Representing Disputing Parties in Two or More ICSID Annulment Proceedings
Law Firms and Barristers' Chambers Representing Disputing Parties in Five or More Cases
