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Investment Dispute Settlement Navigator

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methodology

About

The UNCTAD Investment Dispute Settlement Navigator contains information about known international arbitration cases initiated by investors against States pursuant to international investment agreements (IIAs). Such arbitrations are also referred to as treaty-based investor-State dispute settlement (ISDS) cases.

General disclaimer

The Navigator includes information about publicly known IIA-based international investor-State arbitration proceedings. As some proceedings (or certain aspects of proceedings) remain confidential, the information contained in the Navigator cannot be deemed exhaustive.

While every effort is made to keep the information up to date and complete, the material is provided without any guarantees or warranties as to its accuracy or completeness. UNCTAD assumes no responsibility for eventual errors or omissions in these data.

We welcome any additional information or clarifications on specific cases as well as suggestions to improve the Navigator. Please contact us using the online contact form.

Cases included in the Navigator

A case is included in the Navigator if it is:

  • an international arbitration between an investor and a State;
  • fully or partially based on an IIA, such as a bilateral investment treaty or the investment chapter of a free trade agreement (not included are investor-State disputes that are solely based on contracts or on domestic investment legislation);
  • submitted to arbitration through a notice of arbitration or a request for arbitration, and upon registration of such request if applicable (not included are cases where a disputing party has only notified the other party of the existence of a dispute or signalled its intention to submit a claim, but has not yet commenced the arbitration).

Sources of information and frequency of updating

The information included in the Navigator is collected from publicly available sources. Primary sources (i.e. official documents relating to the case and information provided by the administering institutions) are the main and preferred source of information. Secondary sources, such as specialized reporting services and other sources deemed reliable, are used to supplement primary sources and/or obtain case information otherwise unavailable.

The Navigator is updated on a regular, typically biannual, basis. The date of the last update is displayed on the Navigator’s home page.

Methodological notes for the recording of data

Case name

Full case name is recorded as it appears in the official case documents and as it is registered at the administering institution if applicable. If there are more than five claimants in the case, the names of all claimants can be replaced by the name of the first claimant followed by the words “and others”.

Short case name is ascribed by UNCTAD. Typically it is the first word of a corporate claimant’s name, an abbreviation of the corporate claimant’s name, or the last name of a natural-person claimant “v.” the short version of the respondent State’s name.

If the Navigator includes more than one case with the exact same name, then “(I)” is added to the case name of the earlier case, and a “(II)”, “(III)”, etc. is added to the name of each subsequent case.

Year of initiation

This is the year in which the notice of arbitration / request for arbitration was submitted by the claimant. For arbitrations brought under the ICSID Convention Arbitration Rules or ICSID Additional Facilities (AF) Rules, the year in which the claim was registered by ICSID is used.

Applicable IIA

This is the IIA(s) pursuant to which the claimant initiated the arbitral proceedings.

Arbitral rules

These are the arbitral rules in accordance with which the proceedings are conducted. Proceedings that are not subject to any existing set of arbitral rules, i.e. where the arbitral tribunal determines procedural rules, are marked “None (ad hoc)”.

Administering institution

This is the institution that provides administrative support for the arbitral proceedings. When the proceedings are subject to arbitral rules of a certain arbitral institution (e.g. SCC or ICC), the relevant institution administers that case. In ad hoc arbitrations or those that are subject to non-institutional arbitral rules (e.g. UNCITRAL Arbitration Rules), the parties may request any arbitral institution to administer their case (e.g. PCA). Proceedings may also be conducted without being administered by any institution.

Common abbreviations for administering institutions:

CRCICACairo Regional Centre for International Commercial Arbitration
ICCInternational Chamber of Commerce (International Court of Arbitration)
ICSIDInternational Centre for Settlement of Investment Disputes
LCIALondon Court of International Arbitration
MCCIMoscow Chamber of Commerce and Industry
PCAPermanent Court of Arbitration
SCCStockholm Chamber of Commerce (Arbitration Institute)

Details of investment and summary of the dispute

The details of investment are presented as argued by the claimant, unless otherwise expressly identified by an arbitral tribunal in its decisions or awards.

The summary of the dispute describes in very general terms the conduct allegedly in breach of IIA obligations as argued by the claimant.

Economic sector and subsector

This refers to the economic sector to which the investment at issue allegedly belongs. The structure of economic activities follows the International Standard Industrial Classification of All Economic Activities, Rev.4 (UN ISIC Rev.4).

Status/Outcome of original proceedings

This refers to the current status of the original arbitration proceedings.

  • Decided in favour of State: the tribunal dismissed the case for lack of jurisdiction or found that the respondent State has not committed any breach of the applicable IIA.
  • Decided in favour of investor: the tribunal found that the respondent State committed one or more breaches of the applicable IIA and awarded monetary compensation or non-pecuniary relief to the claimant investor.
  • Decided in favour of neither party (liability found but no damages awarded): the arbitral tribunal found that the respondent State committed one or more breaches of the applicable IIA but did not award monetary compensation or non-pecuniary relief to the claimant investor.
  • Settled: the disputing parties settled the case and the arbitral proceedings were discontinued for that reason.
  • Pending: the arbitration proceedings are pending. A case remains pending if any of the following elements remain to be decided: jurisdiction, liability (merits), compensation. The case remains pending, for instance, if a State is found to have breached one or more IIA obligations (liability) but no award on damages has been issued yet.
    Notes:
    • The Navigator only records treaty-based disputes or treaty-based aspects of "mixed" disputes. In treaty-based cases that are simultaneously contract-based or based on national investment law ("mixed" disputes), a case is deemed concluded (for purposes of the Navigator) if the tribunal dismissed the case on jurisdiction or finds no breach of the IIA, even if it proceeds to adjudicate the contract- or statutory-based claims.
    • Cases in which a final award has been rendered but which are later subject to follow-on (post-award) proceedings (e.g. ICSID annulment proceedings or domestic judicial review), are marked according to the outcome of the original arbitral proceeding (i.e. not as “Pending”).
  • Discontinued: the arbitration was discontinued for any reason other than due to a (known) settlement. This includes discontinuance as a result of non-payment of arbitration fees, in order to pursue litigation in another forum, or for any other reason (including for unknown reasons).

Arbitral decisions rendered

These are decisions rendered by an arbitral tribunal. Included are those decisions that concern the substance of the case and affect the final outcome. In particular, these include decisions (awards) on jurisdictional issues, liability (merits) and damages, including arbitrators’ individual opinions where these were issued. Discontinuance orders and settlement agreements are also recorded if such information is available.

Not included are any other (supplementary) arbitral decisions, e.g. concerning provisional measures or decisions regarding requests for disqualification of arbitrators. Similarly, procedural orders issued by arbitral tribunals are not included. To access a full list of documentation available with respect to a case, users are invited to use (i) the link to the case page on http://italaw.com, and/or (ii) links to the websites of governments and/or arbitral institutions provided in the “Additional information” section.

Amounts claimed and awarded

Amount claimed refers to the amount of monetary compensation claimed by the investor, not including interest, legal costs or costs of arbitration.

Amount awarded refers to the amount of monetary compensation awarded by the arbitral tribunal to the claimant, not including interest, legal costs or costs of arbitration.

For proceedings that end in a settlement, the amount of compensation that the State agreed to pay to the claimant under the terms of settlement (if known) is recorded in this section.

Amounts are recorded in the currency used by the claimant/tribunal. The list of currencies in the Navigator follows the International Organization for Standardization (ISO) 4217 code list.

To enable comparisons between cases, all amounts are also converted to US dollars. For the purposes of such conversion, the OANDA Historical Currency Converter is being used; the date of conversion is the date of the document or other source from which the information was obtained (e.g. the date in which the request for arbitration containing this amount was submitted or the date of the final award).

Whenever possible, information about amounts claimed and awarded is obtained from primary sources such as the arbitration documents. Otherwise, it is derived from other publicly available sources that are deemed reliable. In some cases, the approximate amount may be recorded to give a broad indication of the dispute’s magnitude. As a general rule, a rounded figure (to the nearest hundred thousand) of the amount claimed or awarded is provided.

If the claimant provides more than one valuation of damages claimed, the highest of these amounts is recorded.

IIA breaches alleged and found

Information about breaches alleged is primarily derived from the claimant’s request of arbitration, claimant’s memorials and/or arbitral decisions. When the relevant case documentation is not publicly available, information about breaches alleged may be obtained from other public sources that are deemed reliable.

Information about breaches found is primarily derived from the arbitral decisions. When the relevant decision is not publicly available, information about breaches found may be obtained from other public sources that are deemed reliable.

Claims concerning expropriation are classified as “direct” or “indirect” according to the characterisation made by the claimant and/or the tribunal. Whenever a claimant or the tribunal refer to “expropriation”, without distinguishing between “direct” or “indirect”, such distinction is made on the basis of the factual background of the case and the context of the claimant’s claims and tribunal’s findings.

Composition of tribunal

These are individuals who serve as members of the arbitral tribunal adjudicating the dispute (arbitrators).

The disputing party (i.e. claimant or respondent) that appointed a particular arbitrator is also recorded insofar as information is available. Instances where the respondent failed to appoint an arbitrator, and the latter was appointed by an “appointing authority”, are not recorded separately (i.e. both types of appointment are recorded under “Appointed by / designated to Respondent” without further distinction).

In case an arbitrator has been replaced by another individual (e.g. as a result of resignation, disqualification or passing away), the names of both the previous and subsequent arbitrator are recorded.

Follow-on (post-award) proceedings

Follow-on (post-award) proceedings include three types of legal proceedings:

  • ICSID annulment proceedings;
  • Judicial review by national courts (set-aside proceedings); and
  • ICSID resubmission proceedings.

Initiation of a follow-on proceeding by either disputing party does not affect the field “Case Status/Outcome” of the original proceeding, until the follow-on proceeding is completed. For example, in a case where a final award has been rendered but it is later subject to a follow-on proceeding (e.g. ICSID annulment proceeding), the status of the case is marked according to the outcome of the original arbitral proceeding (i.e. not as “Pending”).

Decisions, judgments and/or awards rendered in the course of follow-on (post-award) proceedings, as well as any individual opinions appended to them, are recorded.

The composition of the ICSID ad hoc committees that adjudicate requests for annulment under the ICSID Convention is recorded.

Link to Italaw’s case page

The Italaw.com portal offers a wide collection of case documentation for many investor-State disputes. It makes available not only the main arbitral decisions, but also procedural orders, parties’ submissions, expert opinions and other types of documents.

A link to the relevant case page at http://italaw.com is provided where such page is available, so that users could browse all documents relating to the case at hand.

Additional information

This section provides links to sources of information used for gathering data for the case at hand or otherwise relevant to that case. These may include links to websites of arbitral/administering institutions, governments, international organisations, specialised reporting services (including subscription-based), media and other resources.

Number of cases as respondent State
1 60
Updated as of 31 December 2017

Spain - as respondent State

Clear selection
Loaded 43 out of 43 Show all
No. Year of
initiation
Short case
name
Summary Outcome of
original proceedings
Respondent
State
Home State
of investor
1 2017 DCM Energy and others v. Spain DCM Energy GmbH & Co. Solar 1 KG, DCM Energy GmbH & Co. Solar 2 KG, Edisun Power Europe A.G., Hannover Leasing Sun Invest 2 Spanien Beteiligungs GmbH, and Hannover Leasing Sun Invest 2 Spanien GmbH & Co. KG v. Kingdom of Spain (ICSID Case No. ARB/17/41) The Energy Charter Treaty (1994) ICSID ICSID Investment:

Summary:
Pending Spain Germany

Switzerland
Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Data not available Data not available Data not available Data not available Pending None None None None None None None
2 2017 FREIF Eurowind v. Spain FREIF Eurowind v. Kingdom of Spain (SCC Case No. 2017/060) The Energy Charter Treaty (1994) SCC SCC Investment:

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Pending Spain United Kingdom Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Jones, D. - President

Hobér, K. - Claimant

Clay, T. - Respondent
53.00 mln EUR (61.60 mln USD) Data not available Data not available Pending None None None None None None None
3 2017 Portigon v. Spain Portigon AG v. Kingdom of Spain (ICSID Case No. ARB/17/15) The Energy Charter Treaty (1994) ICSID ICSID Investment: Investments in three solar power plants with an output of 150 megawatts as part of a consortium of banks.

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Investments in three solar power plants with an output of 150 megawatts as part of a consortium of banks. Pending Spain Germany Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Data not available Data not available Data not available Data not available Pending None None None None None None None
4 2016 Biram and others v. Spain Aharon Naftali Biram, Gilatz Spain SL, Redmill Holdings Ltd and Sun-Flower Olmeda GmbH v. Kingdom of Spain (ICSID Case No. ARB/16/17) The Energy Charter Treaty (1994) ICSID ICSID Investment: Investments in photovoltaic plants.

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Investments in photovoltaic plants. Pending Spain Germany

United Kingdom
Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Bernardini, P. - Respondent (replaced)

Johnson, O. T. - Claimant

Greenwood, C. - President

Kohen, M. G. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
5 2016 Corcoesto v. Spain Corcoesto, S.A. v. Kingdom of Spain (PCA Case No. 2016-26) Panama - Spain BIT (1997) UNCITRAL PCA Investment: Exploitation concessions for a gold mining project in Corcoesto, Spain.

Summary: Claims arising out of a decision of the regional (Galician) Government to unilaterally terminate the claimant’s mining concessions for the Corcoesto gold project in the northwest of Spain.
Exploitation concessions for a gold mining project in Corcoesto, Spain. Pending Spain Panama Primary: B - Mining and quarrying 7 - Mining of metal ores Data not available Data not available Data not available Data not available Pending Data not available Data not available None None None None None
6 2016 Cordoba Beheer and others v. Spain Cordoba Beheer B.V., Cross Retail S.L., Sevilla Beheer B.V., Spanish project companies v. Kingdom of Spain (ICSID Case No. ARB/16/27) The Energy Charter Treaty (1994) ICSID ICSID Investment: Investments in a renewable energy generation enterprise.

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Investments in a renewable energy generation enterprise. Pending Spain Netherlands Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Fathallah, R. - President

Dolzer, R. - Claimant

Tanzi, A. M. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
7 2016 EDF v. Spain EDF Energies Nouvelles S.A. v. Kingdom of Spain The Energy Charter Treaty (1994) UNCITRAL Data not available Investment:

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Pending Spain France Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Data not available 52.80 mln EUR (61.30 mln USD) Data not available Data not available Pending Data not available Data not available None None None None None
8 2016 Eurus Energy v. Spain Eurus Energy Holdings Corporation and Eurus Energy Europe B.V. v. Kingdom of Spain (ICSID Case No. ARB/16/4) The Energy Charter Treaty (1994) ICSID ICSID Investment: Investments in a renewable energy generation enterprise.

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Investments in a renewable energy generation enterprise. Pending Spain Japan

Netherlands
Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Crawford, J. R. - President

Garibaldi, O. M. - Claimant

Giardina, A. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
9 2016 Green Power and Obton v. Spain Green Power K/S and Obton A/S v. Kingdom of Spain (SCC Case No. 2016/135) The Energy Charter Treaty (1994) SCC SCC Investment:

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Pending Spain Denmark Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Data not available 76.10 mln EUR (88.40 mln USD) Data not available Data not available Pending Data not available Data not available None None None None None
10 2016 Infracapital v. Spain Infracapital F1 S.à r.l. and Infracapital Solar B.V. v. Kingdom of Spain (ICSID Case No. ARB/16/18) The Energy Charter Treaty (1994) ICSID ICSID Investment: Investments in photovoltaic plants.

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Investments in photovoltaic plants. Pending Spain Luxembourg

Netherlands
Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Nunes Pinto, J. E. - President

Cameron, P. D. - Claimant

González García, L. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
11 2015 9REN Holding v. Spain 9REN Holding S.a.r.l v. Kingdom of Spain (ICSID Case No. ARB/15/15) The Energy Charter Treaty (1994) ICSID ICSID Investment: Investments in a renewable energy generation enterprise.

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Investments in a renewable energy generation enterprise. Pending Spain Luxembourg Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Haigh, D. - Claimant

Veeder, V. V. - Respondent

Binnie, I. - President
Data not available Data not available Data not available Pending None None None None None None None
12 2015 Alten Renewable v. Spain Alten Renewable Energy Developments BV v. Kingdom of Spain The Energy Charter Treaty (1994) SCC SCC Investment: Investments in photovoltaic plants.

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Investments in photovoltaic plants. Pending Spain Netherlands Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Baptista, L. O. - President

Jana Linetzky, A. - Claimant

Perezcano Diaz, H. - Respondent
Data not available Data not available Data not available Pending Data not available Data not available None None None None None
13 2015 BayWa r.e. v. Spain BayWa r.e. Renewable Energy GmbH and BayWa r.e. Asset Holding GmbH v. Kingdom of Spain (ICSID Case No. ARB/15/16) The Energy Charter Treaty (1994) ICSID ICSID Investment: Investments in the Spanish solar energy sector; including majority ownership of a 99-megawatt solar power plant in Aragon, a 70-megawatt solar power plant in Valencia and investments in solar power plants in Barcelona, Mallorca and Madrid.

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Investments in the Spanish solar energy sector; including majority ownership of a 99-megawatt solar power plant in Aragon, a 70-megawatt solar power plant in Valencia and investments in solar power plants in Barcelona, Mallorca and Madrid. Pending Spain Germany Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Malintoppi, L. - Respondent

Grigera Naón, H. A. - Claimant

Crawford, J. R. - President
Data not available Data not available Data not available Pending None None None None None None None
14 2015 Cavalum SGPS v. Spain Cavalum SGPS, S.A. v. Kingdom of Spain (ICSID Case No. ARB/15/34) The Energy Charter Treaty (1994) ICSID ICSID Investment: Ownership of five solar power plants in Western and Central Spain.

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Ownership of five solar power plants in Western and Central Spain. Pending Spain Portugal Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Collins, L. - President

Haigh, D. - Claimant

Bethlehem, D. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
15 2015 Cube Infrastructure v. Spain Cube Infrastructure Fund SICAV and others v. Kingdom of Spain (ICSID Case No. ARB/15/20) The Energy Charter Treaty (1994) ICSID ICSID Investment: Majority shareholding (66.5 per cent) in a Madrid-based renewable energy company, RPI.

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Majority shareholding (66.5 per cent) in a Madrid-based renewable energy company, RPI. Pending Spain France

Luxembourg
Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Spigelman, J. - Claimant

Lowe, V. - President

Tomuschat, C. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
16 2015 E.ON SE and others v. Spain E.ON SE, E.ON Finanzanlagen GmbH and E.ON Iberia Holding GmbH v. Kingdom of Spain (ICSID Case No. ARB/15/35) The Energy Charter Treaty (1994) ICSID ICSID Investment: Investments in solar, wind and mini-hydro electric power plants in Spain.

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Investments in solar, wind and mini-hydro electric power plants in Spain. Pending Spain Germany Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Kantor, M. - President

Orrego Vicuña, F. - Claimant

Boisson de Chazournes, L. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
17 2015 Foresight and others v. Spain Foresight Luxembourg Solar 1 S. Á.R1., Foresight Luxembourg Solar 2 S.Á.R.L., Greentech Energy System A/S, GWM Renewable Energy I S.P.A and GWM Renewable Energy Ii S.P.A v. Kingdom of Spain (SCC Case No. 2015/150) The Energy Charter Treaty (1994) SCC SCC Investment:

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Pending Spain Luxembourg

Denmark

Italy
Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Moser, M. J. - President

Sachs, K. - Claimant

Vinuesa, R. E. - Respondent
50.00 mln EUR (58.10 mln USD) Data not available Data not available Pending Data not available Data not available None None None None None
18 2015 Hydro Energy 1 and Hydroxana v. Spain Hydro Energy 1 S.à r.l. and Hydroxana Sweden AB v. Kingdom of Spain (ICSID Case No. ARB/15/42) The Energy Charter Treaty (1994) ICSID ICSID Investment: Investments in renewable energy generation enterprise.

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Investments in renewable energy generation enterprise. Pending Spain Luxembourg

Sweden
Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Collins, L. - President

Rees, P. - Claimant

Knieper, R. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
19 2015 JGC v. Spain JGC Corporation v. Kingdom of Spain (ICSID Case No. ARB/15/27) The Energy Charter Treaty (1994) ICSID ICSID Investment: Shareholding in two solar thermal power plants in Cordoba, Spain.

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Shareholding in two solar thermal power plants in Cordoba, Spain. Pending Spain Japan Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Dolzer, R. - Claimant

Shin, H.-T. - President

Pinto, M. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
20 2015 Kruck and others v. Spain Frank Schumm, Joachim Kruck, Jürgen Reiss and others v. Kingdom of Spain (ICSID Case No. ARB/15/23) The Energy Charter Treaty (1994) ICSID ICSID Investment: Investments in photovoltaic power plant facilities in different regions of Spain.

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Investments in photovoltaic power plant facilities in different regions of Spain. Pending Spain Germany Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Born, G. B. - Claimant

Lowe, V. - President

Douglas, Z. - Respondent
Data not available Data not available Data not available Pending Decision on the Respondent’s preliminary objections pursuant to ICSID Arbitration Rule 41(5) dated 14 March 2016 None None None None None None
21 2015 KS and TLS Invest v. Spain KS Invest GmbH and TLS Invest GmbH v. Kingdom of Spain (ICSID Case No. ARB/15/25) The Energy Charter Treaty (1994) ICSID ICSID Investment: Investments in a renewable energy generation enterprise.

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Investments in a renewable energy generation enterprise. Pending Spain Germany Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Simma, B. - President

Bethlehem, D. - Respondent

Born, G. B. - Unknown
Data not available Data not available Data not available Pending None None None None None None None
22 2015 Landesbank Baden-Württemberg and others v. Spain Landesbank Baden-Württemberg, HSH Nordbank AG, Landesbank Hessen-Thüringen Girozentrale and Norddeutsche Landesbank-Girozentrale v. Kingdom of Spain (ICSID Case No. ARB/15/45) The Energy Charter Treaty (1994) ICSID ICSID Investment: Investments in renewable energy generation enterprises (photovoltaic and solar thermal plants).

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Investments in renewable energy generation enterprises (photovoltaic and solar thermal plants). Pending Spain Germany Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Greenwood, C. - President

Poncet, C. - Claimant

Oreamuno Blanco, R. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
23 2015 Novenergia v. Spain Novenergia v. Spain (SCC Case No. 063/2015) The Energy Charter Treaty (1994) SCC SCC Investment: Investments in seven photovoltaic plants.

Summary:
Investments in seven photovoltaic plants. Pending Spain Luxembourg Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Sidklev, J. - President

Crivellaro, A. - Claimant

Sepúlveda Amor, B. - Respondent
Data not available Data not available Data not available Pending Data not available Data not available None None None None None
24 2015 OperaFund v. Spain OperaFund Eco-Invest SICAV PLC and Schwab Holding AG v. Kingdom of Spain (ICSID Case No. ARB/15/36) The Energy Charter Treaty (1994) ICSID ICSID Investment: Ownership of energy holdings in the Extremadura region of western Spain.

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Ownership of energy holdings in the Extremadura region of western Spain. Pending Spain Malta

Switzerland
Tertiary: D - Electricity, gas, steam and air conditioning supply

Tertiary: H - Transportation and storage
35 - Electricity, gas, steam and air conditioning supply

49 - Land transport and transport via pipelines
Böckstiegel, K.-H. - President

Reinisch, A. - Claimant

Sands, P. - Unknown
Data not available Data not available Data not available Pending None None None None None None None
25 2015 Solarpark v. Spain Solarpark Management GmbH & Co. Atum I KG v. Kingdom of Spain (SCC Case No. 2015/163) The Energy Charter Treaty (1994) SCC SCC Investment:

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Discontinued Spain Germany Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Data not available 6.10 mln EUR (7.10 mln USD) Data not available Data not available Not applicable - settled or discontinued before decision on liability None None None None None None None
26 2015 SolEs Badajoz v. Spain SolEs Badajoz GmbH v. Kingdom of Spain (ICSID Case No. ARB/15/38) The Energy Charter Treaty (1994) ICSID ICSID Investment: Investments in a Spanish solar energy production company.

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Investments in a Spanish solar energy production company. Pending Spain Germany Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Donoghue, J. E. - President

Alexandrov, S. A. - Claimant (replaced)

Joubin-Bret, A. - Respondent (replaced)

Williams, D. A. R. - Claimant

Sacerdoti, G. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
27 2015 Stadtwerke München and others v. Spain Stadtwerke München GmbH and others v. Kingdom of Spain (ICSID Case No. ARB/15/1) The Energy Charter Treaty (1994) ICSID ICSID Investment: Majority shareholding in the Spanish thermo solar plant Andasol located in Granada and held by the Spanish project company Marquesado Solar S.L.

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Majority shareholding in the Spanish thermo solar plant Andasol located in Granada and held by the Spanish project company Marquesado Solar S.L. Pending Spain Germany Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Hobér, K. - Claimant

Douglas, Z. - Respondent

Salacuse, J. W. - President
Data not available Data not available Data not available Pending None None None None None None None
28 2015 STEAG v. Spain STEAG GmbH v. Kingdom of Spain (ICSID Case No. ARB/15/4) The Energy Charter Treaty (1994) ICSID ICSID Investment: Shareholding in the Spanish thermosolar power plant Arenales.

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector.
Shareholding in the Spanish thermosolar power plant Arenales. Pending Spain Germany Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Tawil, G. S. - Claimant

Dupuy, P.-M. - Respondent

Zuleta, E. - President
Data not available Data not available Data not available Pending None None None None None None None
29 2015 Watkins Holdings v. Spain Watkins Holdings S.à r.l. and others v. Kingdom of Spain (ICSID Case No. ARB/15/44) The Energy Charter Treaty (1994) ICSID ICSID Investment: Investments in renewable energy generation enterprises (wind farms).

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Investments in renewable energy generation enterprises (wind farms). Pending Spain Luxembourg

Netherlands
Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Pryles, M. C. - Claimant

Ruiz Fabri, H. - Respondent

Abraham, C. W. M. - President
Data not available Data not available Data not available Pending None None None None None None None
30 2014 InfraRed and others v. Spain InfraRed Environmental Infrastructure GP Limited and others v. Kingdom of Spain (ICSID Case No. ARB/14/12) The Energy Charter Treaty (1994) ICSID ICSID Investment: Equity participations in two concentrated solar projects in Spain, located in Andalucía and Extremadura.

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Equity participations in two concentrated solar projects in Spain, located in Andalucía and Extremadura. Pending Spain United Kingdom Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Drymer, S. L. - President

Park, W. W. - Claimant

Dupuy, P.-M. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
31 2014 Masdar Solar v. Spain Masdar Solar & Wind Cooperatief U.A. v. Kingdom of Spain (ICSID Case No. ARB/14/1) The Energy Charter Treaty (1994) ICSID ICSID Investment: Shareholding in the Spanish company Torresol Energy which operated three concentrated solar power plants in Spain: Germasolar, Valle 1 and Valle 2.

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Shareholding in the Spanish company Torresol Energy which operated three concentrated solar power plants in Spain: Germasolar, Valle 1 and Valle 2. Pending Spain Netherlands Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Beechey, J. - President

Born, G. B. - Claimant

Stern, B. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
32 2014 NextEra v. Spain NextEra Energy Global Holdings B.V. and NextEra Energy Spain Holdings B.V. v. Kingdom of Spain (ICSID Case No. ARB/14/11) The Energy Charter Treaty (1994) ICSID ICSID Investment: Construction and operation of two thermosolar plants in Extremadura, Spain.

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Construction and operation of two thermosolar plants in Extremadura, Spain. Pending Spain Netherlands Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply McRae, D. M. - President

Fortier, L. Y. - Claimant

Boisson de Chazournes, L. - Respondent
342.00 mln USD Data not available Data not available Pending None None None None None None None
33 2014 RENERGY v. Spain RENERGY S.à r.l. v. Kingdom of Spain (ICSID Case No. ARB/14/18) The Energy Charter Treaty (1994) ICSID ICSID Investment: Shareholding in the renewable energy generation company Iberéolica, which owned two thermosolar plants in Seville and Badajoz.

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Shareholding in the renewable energy generation company Iberéolica, which owned two thermosolar plants in Seville and Badajoz. Pending Spain Luxembourg Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Simma, B. - President

Schreuer, C. H. - Claimant

Sands, P. - Respondent
600.00 mln EUR (805.00 mln USD) Data not available Data not available Pending None None None None None None None
34 2014 RWE Innogy v. Spain RWE Innogy GmbH and RWE Innogy Aersa S.A.U. v. Kingdom of Spain (ICSID Case No. ARB/14/34) The Energy Charter Treaty (1994) ICSID ICSID Investment: Ownership of several renewable energy generation enterprises in Spain, including the thermosolar plant Andasol 3 in Granada.

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Ownership of several renewable energy generation enterprises in Spain, including the thermosolar plant Andasol 3 in Granada. Pending Spain Germany Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Kessler, J. L. - Claimant

Wordsworth, S. - President

Joubin-Bret, A. - Respondent
82.00 mln EUR (97.00 mln USD) Data not available Data not available Pending None None None None None None None
35 2013 Antin v. Spain Antin Infrastructure Services Luxembourg S.à.r.l. and Antin Energia Termosolar B.V. v. Kingdom of Spain (ICSID Case No. ARB/13/31) The Energy Charter Treaty (1994) ICSID ICSID Investment: Shareholding in two solar thermo plants in Andalucía, Spain.

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Shareholding in two solar thermo plants in Andalucía, Spain. Pending Spain Luxembourg

Netherlands
Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Zuleta, E. - President

Orrego Vicuña, F. - Claimant

Thomas, J. C. - Respondent
Data not available Data not available Data not available Pending Decision on the Respondent’s request to address the objections to jurisdiction as a preliminary question dated 2 March 2015 None None None None None None
36 2013 CSP Equity Investment v. Spain CSP Equity Investment Sarl v. Kingdom of Spain (SCC Case No. 094/2013) The Energy Charter Treaty (1994) SCC PCA Investment: Equity interests in six thermo-solar powerplants in Spain.

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Equity interests in six thermo-solar powerplants in Spain. Pending Spain Luxembourg Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Data not available 840.00 mln EUR (975.90 mln USD) Data not available Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Pending None None None None None None None
37 2013 Eiser and Energía Solar v. Spain Eiser Infrastructure Limited and Energía Solar Luxembourg S.à r.l. v. Kingdom of Spain (ICSID Case No. ARB/13/36) The Energy Charter Treaty (1994) ICSID ICSID Investment: Interests in three concentrated solar power plants located in Spain.

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Interests in three concentrated solar power plants located in Spain. Decided in favour of investor Spain Luxembourg

United Kingdom
Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Crook, J. R. - President

Alexandrov, S. A. - Claimant

McLachlan, C. A. - Respondent
256.00 mln EUR (279.50 mln USD) 128.00 mln EUR (139.80 mln USD) Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Arbitrary, unreasonable and/or discriminatory measures

Umbrella clause

Indirect expropriation
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims Decision on the Respondent’s request to address the objections to jurisdiction as a preliminary question dated 9 February 2015

Award dated 4 May 2017
None ICSID annulment proceedings Pending (ICSID annulment proceedings) None None Ramírez Hernández, R. - President

Cheng, T. - Member

Hascher, D. - Member
38 2013 Isolux v. Spain Isolux Infrastructure Netherlands B.V. v. Kingdom of Spain (SCC Case No. 2013/153) The Energy Charter Treaty (1994) SCC SCC Investment: Interests in several photovoltaic plants in Spain.

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Interests in several photovoltaic plants in Spain. Decided in favour of State Spain Netherlands Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Derains, Y. - President

Tawil, G. S. - Claimant

von Wobeser, C. - Respondent
Data not available Data not available Data not available None - all claims dismissed at the merits stage Award dated 12 July 2016 Dissenting Opinion of Guido S. Tawil None None None None None
39 2013 RREEF v. Spain RREEF Infrastructure (G.P.) Limited and RREEF Pan-European Infrastructure Two Lux S.à r.l. v. Kingdom of Spain (ICSID Case No. ARB/13/30) The Energy Charter Treaty (1994) ICSID ICSID Investment: Shareholding in two solar power plants located in Andalucía, Spain.

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Shareholding in two solar power plants located in Andalucía, Spain. Pending Spain Luxembourg

United Kingdom
Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Pellet, A. - President

Volterra, R. - Claimant

Nikken, P. - Respondent
441.00 mln EUR (512.30 mln USD) Data not available Data not available Pending Decision on Jurisdiction dated 6 June 2016 None None None None None None
40 2012 Charanne and Construction Investments v. Spain Charanne B.V. and Construction Investments S.a.r.l. v. Spain (SCC Case No. 062/2012) The Energy Charter Treaty (1994) SCC SCC Investment: Shareholding of 18.66% (by Charanne) and 2.89% (by Construction Investments) in T-Solar Global S.A., a Spanish solar power plant.

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Shareholding of 18.66% (by Charanne) and 2.89% (by Construction Investments) in T-Solar Global S.A., a Spanish solar power plant. Decided in favour of State Spain Luxembourg

Netherlands
Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Mourre, A. - President

Tawil, G. S. - Claimant

von Wobeser, C. - Respondent
17.80 mln EUR (20.70 mln USD) Data not available Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Indirect expropriation

Other
None - all claims dismissed at the merits stage Final Award dated 21 January 2016 Dissenting Opinion of Guido Santiago Tawil None None None None None
41 2012 IGB v. Spain Inversión y Gestión de Bienes, IGB, S.L. and IGB18 Las Rozas, S.L. v. Kingdom of Spain (ICSID Case No. ARB/12/17) Spain - Venezuela, Bolivarian Republic of BIT (1995) ICSID ICSID Investment: Capital expenditure of over EUR 25 million for the acquisition of land to develop a residential complex in the municipality of Las Rozas, Madrid.

Summary: Claims arising out of the non-approval of an urbanistic plan for the development of a residential complex in Madrid, after allegedly receiving incentives from the municipality of Madrid to carry out the investment.
Capital expenditure of over EUR 25 million for the acquisition of land to develop a residential complex in the municipality of Las Rozas, Madrid. Decided in favour of State Spain Venezuela, Bolivarian Republic of Tertiary: F - Construction

Tertiary: L - Real estate activities
41 - Construction of buildings

68 - Real estate activities
Oreamuno Blanco, R. - Sole arbitrator 25.00 mln EUR (30.70 mln USD) Data not available Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Indirect expropriation

Full protection and security, or similar

Arbitrary, unreasonable and/or discriminatory measures

National treatment

Umbrella clause

Other
None - all claims dismissed at the merits stage Award dated 14 August 2015

Decision on Jurisdiction dated 21 June 2013
None None None None None None
42 2011 The PV Investors v. Spain The PV Investors v. Spain (PCA Case No. 2012-14) The Energy Charter Treaty (1994) UNCITRAL PCA Investment: Interests in photovoltaic energy installations in Spain.

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Interests in photovoltaic energy installations in Spain. Pending Spain Denmark

Germany

Ireland

Luxembourg

Netherlands

United Kingdom
Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Kaufmann-Kohler, G. - President

Brower, C. N. - Claimant

Sepúlveda Amor, B. - Respondent
1900.00 mln EUR (2200.00 mln USD) Data not available Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims Pending Decision on Bifurcation dated March 2013 None None None None None None
43 1997 Maffezini v. Spain Emilio Agustín Maffezini v. The Kingdom of Spain (ICSID Case No. ARB/97/7) Argentina - Spain BIT (1991) ICSID ICSID Investment: Shareholding in company engaged in the production and distribution of chemical products in the Spanish region of Galicia.

Summary: Claims arising out of the discontinuance of the company's activities due to an internal financial crisis allegedly attributed to Spain, including allegations of misinforming the claimant on the costs of the project and involving alleged unauthorized bank transfers.
Shareholding in company engaged in the production and distribution of chemical products in the Spanish region of Galicia. Decided in favour of investor Spain Argentina Secondary: C - Manufacturing 20 - Manufacture of chemicals and chemical products Orrego Vicuña, F. - President

Buergenthal, T. - Claimant

Wolf, M. - Respondent
Data not available 30.00 mln ESP (0.15 mln USD) Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Transfer of funds

Other
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Other
Decision of the Tribunal on Objections to Jurisdiction dated 25 January 2000

Award dated 13 November 2000
None None None None None None