Mixed results in recent arbitral awards concerning Spain’s renewable energy policy
April 23, 2018
Frequent changes to the regulatory framework governing renewable energy generation in Spain have given rise to an almost unprecedented amount of investor-State arbitration cases. Spain, which is a Contracting Party to the 1994 Energy Charter Treaty (ECT), is respondent in no less than 33 ECT cases. Since many of these cases were registered from 2011 onwards, it is to be expected that a significant number of these cases will be resolved in the near future.
In May 2017, the first arbitral award was rendered where a Tribunal concluded that Spain had violated its obligations under the ECT. More recently, an arbitral award came to the surface that was already decided in July 2016, but that had remained confidential. The findings of the Tribunals in these cases, where the same measures were being challenged by investors, will be the subject of this blogpost.