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Home > Legal & Regulatory docs.

Tribunal fédéral suisse 4A_187/2020 - French - 23 February 2021 related to The PV Investors v. The Kingdom of Spain PCA Case No. 2012-14 (French, incl. English Translation)

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Country
  • Germany
  • Luxembourg
  • Netherlands
  • Spain
  • Switzerland
Year

2021

Summary

Objet: arbitrage international, recours en matière civile contre la sentence rendue le 28 février 2020 par un Tribunal arbitral avec siège à Genève (PCA no 2012-14)

Faits: A. En 1997, A.________ a adopté une loi instituant un régime spécial visant à promouvoir les sources d'énergies renouvelables. Il a réglé les détails de ce régime spécial dans plusieurs décrets successifs. Le décret xxx, promulgué en 2007, a arrêté le prix d'achat au kilowattheure (Feed-in-Tariff ou FIT) de l'électricité photovoltaïque. Il prévoyait un FIT attractif pour les 25 premières années d'exploitation des installations photovoltaïques, et un FIT moins élevé pour les années subséquentes. Afin de compenser l'inflation, le FIT pouvait être ajusté chaque année sur la base de l'indice national des prix à la consommation. Pour pouvoir vendre l'électricité produite au FIT prévu par ledit décret, les producteurs d'énergies renouvelables devaient s'annoncer auprès de l'autorité compétente dans un délai déterminé.

A la suite de l'adoption du décret précité, les vingt-six acteurs commerciaux mentionnés dans le rubrum du présent arrêt (ci-après: les investisseurs), ayant tous leurs sièges ou leur domicile dans un État membre de l'Union européenne (UE), ont consenti d'importants investissements et procédé aux démarches nécessaires en vue de pouvoir vendre l'électricité produite au tarif avantageux fixé dans ledit décret.

Dès 2010, A.________ a pris diverses mesures sur le plan législatif ayant des répercussions sur la rétribution des producteurs d'énergies renouvelables. En 2013, il a adopté une nouvelle réglementation mettant un terme aux précédentes mesures d'encouragement prises en faveur des installations photovoltaïques.

...

UNOFFICIAL TRANSLATION (by Diego Alonso)

Object: international arbitration, Appeal in civil matters against the award handed down on 28 February 2020 by an arbitral tribunal with seat in Geneva (PCA No. 2012-14).

Facts:

A. In 1997, A.________ enacted a law creating a special regime to promote renewable energy sources. The details of this special regime were regulated in several successive decrees. Decree xxx, promulgated in 2007, set the Feed-in-Tariff (FIT) for photovoltaic electricity. It provided for an advantageous FIT for the first 25 years of operation of photovoltaic plants, and a lower FIT for the remaining years. To offset inflation, the FIT could be adjusted each year on the basis of the national consumer price index. To sell the electricity produced at the FIT set by the above mentioned decree, renewable energy producers were required to register with the competent authority within a set period of time.

As a result of the enactment of the above decree, the twenty-six commercial actors mentioned in the heading of this judgment (hereinafter: the investors), all of which have their registered offices or domicile in a Member State of the European Union (EU), have made major investments and taken the necessary actions so as to be able to sell the electricity produced at the advantageous tariff laid down in the decree.

Starting in 2010, A.________ enacted various legislative measures impacting the compensation of renewable energy producers. In 2013, it passed a new regulation putting an end to previous incentives for photovoltaic plants.

...

See also:

  • OGEL: The PV Investors v The Kingdom of Spain - PCA 2012-14 - Final Award - Concurring and Dissenting opinion of Charles N Brower - English - 28 February 2020
  • OGEL: The PV Investors v The Kingdom of Spain - PCA 2012-14 - Laudo Final - Opinion Concurrente y Disidente de Charles N Brower - Spanish - 28 February 2020
  • TDM: The PV Investors v The Kingdom of Spain - PCA 2012-14 - Final Award - Concurring and Dissenting opinion of Charles N Brower - English - 28 February 2020
  • TDM: The PV Investors v The Kingdom of Spain - PCA 2012-14 - Laudo Final - Opinion Concurrente y Disidente de Charles N Brower - Spanish - 28 February 2020

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