ESPF Beteiligungs GmbH, ESPF Nr. 2 Austria Beteiligungs GmbH, and InfraClass Energie 5 GmbH & Co. KG v. Italian Republic - ICSID Case No. ARB/16/5 - Award - 14 September 2020
Case Report (free download)
Case Report by Kate Felmingham, Editor Diego Luis Alonso Massa
The Claimants' action against Italy alleged that various measures introduced by Italy had altered the financial incentives which their solar power plants had qualified for previously and which had been introduced to encourage investment in the field and on which the Claimants had relied. The claim alleged that Italy had breached Article 10(1) of the Energy Charter Treaty ("ECT") and international law.
Whether the Claimants had an enforceable legitimate expectation at the time of making their investments such that subsequent changes to the regulatory framework constituted a breach of the State's fair and equitable treatment obligation under Article 10(1) of the ECT.
ESPF v Italy - ICSID Case No. ARB/16/5 - Award - 14 September 2020
Case report provided by International Arbitration Case Law (IACL)
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