Power Project Investor’s € 128 Million Victory Against Spain -

Eiser Infrastructure Limited and Energia Solar Luxembourg S.A.R.I. v. Kingdom of Spain (ICSID Case No. ARB/13/36) -

In this edition, we look at an important decision where Spain was found to have violated the Energy Charter Treaty by abruptly changing the feed-in tariffs applicable to solar power projects. This decision is interesting not only on the question of liability, but also the Tribunal’s detailed assessment of the quantification of losses, in particular its approach to quantifying future losses based on the projected life of the project.