Spain Ordered To Pay $35M Over Clean Energy Rule Changes

By Caleb Symons (May 10, 2022, 9:14 PM EDT) -- A divided international tribunal has ordered Spain to pay a Luxembourg-based renewable energy investor nearly €33 million over the country's decision to roll back clean-energy subsidies, which arbitrators said undermined the company's expectation of a stable regulatory regime.

That policy shift — which Spain undertook over several years, beginning in 2012 — violated the global Energy Charter Treaty by hurting investments that Renergy S.à.r.l. had made in Spanish wind and solar-energy facilities, the tribunal's two-member majority ruled Friday.

In its award, worth $34.7 million, the International Centre for Settlement of Investment Disputes panel endorsed Renergy's claim that Spain had created an expectation...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!