Spain Wins Pause Of $66M Energy Investor Award

Law360 (April 1, 2021, 10:17 PM EDT) -- A bid to have a D.C. federal court enforce a $66.3 million arbitral award over Spain's revocation of economic incentives for renewable projects has been put on hold in light of a pending appeal before the International Centre for Settlement of Investment Disputes.

U.S. District Judge Carl J. Nichols on Wednesday said that he would stay the proceedings in the United States because Spain had already applied to annul the award before ICSID, where the award was originally granted to Jersey-based RREEF Infrastructure (GP) Ltd. and the Luxembourg-based RREEF Pan-European Infrastructure Two Lux SARL.

Nichols said that it was an economic decision to...

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