Spain loses case over renewables support cuts

The World Bank’s investment dispute arbitration panel has ordered the Spanish government to pay €128 million plus interest to solar thermal investors hit by its retroactive cuts in renewables support

The World Bank’s investment dispute arbitration panel (ICSID) has ordered the Spanish government to pay €128 million plus interest to solar thermal investors hit by its retroactive cuts in renewables support.

The case, brought by the UK company Eiser Infrastructure and its Luxembourg subsidiary Energia Solar, is the first relating to the impact on investors of cuts in Spanish renewables support in 2013 and 2014 on which ICSID has ruled.

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