Greentech Energy System - Energy Charter Treaty Arbitration against the Kingdom of Spain - final award - Athena Investments AS Company Announcement No 17-2018 - 14 November 2018
Country
Year
2018
Summary
"As anticipated in the Annual Report 2014, in November 2015, Greentech has officially filed a request for arbitration against the Kingdom of Spain pursuant the Energy Charter Treaty, through the Arbitration Institute of the Stockholm Chamber of Commerce. The company claims for the damages generated by Spain’s failure to fulfill legislative, regulatory and contractual commitments made to foreign investors in photovoltaic plants, including the changes in the regulatory scheme for photovoltaic plants occurred at the turn of the years 2013/2014." -- Interim Financial Report Third Quarter 11 November 2015
Case: Greentech Energy System A/S, Foresight Luxembourg Solar 1 S.A.R.L., Foresight Luxembourg Solar 2 S.A.R.L., GWM Renewable Energy l S.P.A, GWM Renewable Energy ll S.P.A v. Kingdom of Spain (SCC case No. 2015/50)