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novenergia v spain

We welcome any additional information or clarifications on specific cases as well as suggestions to improve the Navigator. The structure of economic activities follows the International Standard Industrial Classification of All Economic Activities, Rev.4 (UN ISIC Rev.4). Novenergia v. Spain (SCC Case No. The international arbitral tribunal unanimously found that the Kingdom of Spain’s fundamental overhaul of its renewable energy system, culminating in Royal Decree-Law 9/2013 and attendant regulations, was in violation of the Kingdom of Spain’s obligation under Article 10(1) of the ECT to accord fair and equitable treatment to Novenergia’s seven photovoltaic installations in Spain. Similarly, procedural orders issued by arbitral tribunals are not included. Primary sources (i.e. Novenergia v. Spain Novenergia II - Energy & Environment (SCA), SICAR v. Kingdom of Spain (SCC Case No. v. The Kingdom of Spain, SCC, Arbitration No. The Italaw.com portal offers a wide collection of case documentation for many investor-State disputes. 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). Following an examination pursuant to Art. In a proceeding brought by Novenergia, a Luxembourg investment fund, a tribunal at the Arbitration Institute of the Stockholm Chamber of Commerce (SCC) found that Spain’s electricity reforms breached its obligation to accord to the investor fair and equitable treatment ( FET) under the Energy Charter Treaty ( ECT ). On March 13, 2018 respondent filed a Request for Rectification, Clarification and Complement of the Final Award. 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. Common abbreviations for administering institutions: In case an arbitrator has been replaced by another individual (e.g. Additional information From its origins in Portugal, NovEnergia II has evolved into a European Group with subsidiaries in Spain, Italy, France, Bulgaria, Hungary and Poland. These are individuals who serve as members of the arbitral tribunal adjudicating the dispute (arbitrators). 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. Such arbitrations are also referred to as treaty-based investor-State dispute settlement (ISDS) cases. This is the IIA(s) pursuant to which the claimant initiated the arbitral proceedings. • SCC: Stockholm Chamber of Commerce (Arbitration Institute) Arbitral rules 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. 062/2012, Award of December 27, 2016. Spain has done so in setting aside proceedings in Novenergia v Spain, while Poland followed suit in the setting aside proceedings in PL Holdings v Poland. ¶ 9.) Plaintiff: NOVENERGIA II - ENERGY & ENVIRONMENT (SCA) Defendant: KINGDOM OF SPAIN: Case Number: 1:2018cv01148: Filed: May 16, 2018: Court: US District Court for the District of Columbia The entry point for all country specific investment policy data. Case type: International Investment Agreement. ( Id. The UNCTAD Investment Dispute Settlement Navigator – the ISDS Navigator – is maintained by UNCTAD’s IIA Section. In Novenergia v Spain, the claimant (‘Novenergia’) argued that Spain induced its investments in photovoltaic plants by offering, inter alia, guaranteed tariffs for the lifetime of those plants. 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. Applicable arbitration … 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. NOVENERGIA II - ENERGY & ENVIRONMENT (SCA) v. KINGDOM OF SPAIN, No. Novenergia v Kingdom of Spain’s arbitration regarding seven photovoltaic installations in Spain March 2, 2018 Paolo Bossi Latham & Watkins has secured a victory for Novenergia II Energy & Environment, (SCA), SICAR, a Luxembourg-based renewables investment fund, in a Stockholm Chamber of Commerce arbitration against the Kingdom of Spain. (function(i,s,o,g,r,a,m){i['GoogleAnalyticsObject']=r;i[r]=i[r]||function(){ 2015/063. The International Arbitration Society established the Arbitration Database in May 2008. The eight PV Plants were each built and organised under the auspices of … where the arbitral tribunal determines procedural rules, are marked “None (ad hoc)”. • ICC: International Chamber of Commerce (International Court of Arbitration) When the relevant case documentation is not publicly available, information about breaches alleged may be obtained from other public sources that are deemed reliable. At this time, Novenergia Spain was wholly- and directly-owned by the Claimant. ICSID annulment proceeding), the status of the case is marked according to the outcome of the original arbitral proceeding (i.e. both types of appointment are recorded under “Appointed by / designated to Respondent” without further distinction). Greentech and NovEnergia v. Italy Greentech Energy Systems A/S, NovEnergia II Energy & Environment (SCA) SICAR, and NovEnergia II Italian Portfolio SA v. Italian Republic (SCC Case No. Claims concerning expropriation are classified as “direct” or “indirect” according to the characterisation made by the claimant and/or the tribunal. What tax policymakers need to know about IIAs and their implications for tax measures. If there are more than five claimants in the case, the names of all claimants can be replaced by the name of the first three claimants followed by the words “and others”. The ISDS Navigator contains information about known international arbitration cases initiated by investors against States pursuant to international investment agreements (IIAs). Composition of tribunal As some proceedings (or certain aspects of proceedings) remain confidential, the information contained in the Navigator cannot be deemed exhaustive. Details of investment and summary of the dispute > Claimant : Novenergia II - Energy & Environment (SCA) (Grand Duchy of Luxembourg), SICAR. the date in which the request for arbitration containing this amount was submitted or the date of the final award). With the expansion of global trade, investment and technology over the last decades, international investment. Novenergia claimed that Spain's actions violated its obligation under the ECT to accord "fair and equitable" treatment to investors from signatory states. 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. 2015/063. Short case name The list of currencies in the Navigator follows the International Organization for Standardization (ISO) 4217 code list. With an apparent eye on set-aside, Spain unsuccessfully asks Novenergia tribunal for clarification on ECT–EU law relationship Apr 10, 2018 Award in latest Spain loss surfaces, and SCC tribunal is seen to have taken jurisdiction over Novenergia’s claims, but gives effect to Energy Charter Treaty’s tax measures carve-out Feb 21, 2018 Both of these proceedings are pending before the Svea Court of Appeal. The disputing party (i.e. Petitioner Novenergia II — Energy & Environment (SCA) ("Novenergia") seeks to enforce a € 53.3 million final arbitral award issued by the Arbitration Institute of the Stockholm Chamber of Commerce ("SCC Arbitration Institute") against Respondent, the Kingdom of Spain. Find details on all publicly known treaty-based investor-State dispute settlement cases. Abengoa CSP Equity Investment S.à.r.l. • LCIA: London Court of International Arbitration concerning provisional measures or decisions regarding requests for disqualification of arbitrators. 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. One example of the latter is the case Novenergia v. Spain, which was heard under the SCC Rules, with the legal seat in Stockholm. • Settled: the disputing parties settled the case and the arbitral proceedings were discontinued for that reason. • MCCI: Moscow Chamber of Commerce and Industry not as “Pending”). • 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); An objective evaluation of a country’s legal, regulatory and institutional framework to attract direct investments. • Judicial review by national courts (set-aside proceedings); and 41 of the SCC Rules and Art. The composition of the ICSID ad hoc committees that adjudicate requests for annulment under the ICSID Convention is recorded. 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. A case remains pending if any of the following elements remain to be decided: jurisdiction, liability (merits), compensation. 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. Novenergia II - Energy & Environment (SCA) (Grand Duchy of Luxembourg), SICAR v. The Kingdom of Spain, SCC Case No. (i[r].q=i[r].q||[]).push(arguments)},i[r].l=1*new Date();a=s.createElement(o), • Provide comprehensive analysis on key issues arising from the complexity of the international investment regime, Explore the world's most comprehensive free database of investment treaties and model agreements. As a general rule, a rounded figure (to the nearest hundred thousand) of the amount claimed or awarded is provided. })(window,document,'script','//www.google-analytics.com/analytics.js','ga'); • Technical assistance: delivering trainings, seminars and workshops; conducting IIA and model BIT reviews; offering ad-hoc advice to strengthen the capacity of beneficiaries in handling the complexities of the IIA regime, Novenergia v Spain. SCC or ICC), the relevant institution administers that case. Administering institution • 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. Isolux Infrastructure Netherlands B.V. 063/2015) • The Navigator only records treaty-based disputes or treaty-based aspects of "mixed" disputes. is added to the name of each subsequent case. PCA). Status/Outcome of original proceedings The summary of the dispute describes in very general terms the conduct allegedly in breach of IIA obligations as argued by the claimant (non-exhaustive). • PCA: Permanent Court of Arbitration Like some sort of sci-fi epic producing numerous sequels, another chapter in this story was written last week with reports emerging of an award against Spain in the case of Novenergia v Spain (SCC Case No. Opinion for Novenergia II - Energy & Environment (Sca) v. Kingdom of Spain — Brought to you by Free Law Project, a non-profit dedicated to creating high quality open legal information. Amounts are recorded in the currency used by the claimant/tribunal. Not included are any other (supplementary) arbitral decisions, e.g. Applicable IIA The SCC Arbitration Institute held arbitration proceedings in Stockholm and unanimously held that it had jurisdiction and that Spain had violated Article 10 of the ECT . The scope of this decision’s applicability may be clarified after the resolution of Novenergia v Spain, which is currently before the Svea Court of Appeal. The Navigator is updated on a regular, typically biannual, basis. 3. 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. V2015/063); and reports that Spain is seeking to remove an arbitrator sitting on some of the remaining claims which it faces. Included are those decisions that concern the substance of the case and affect the final outcome. Follow-on (post-award) proceedings V2015/063); and reports that Spain is seeking to remove an arbitrator sitting on some of the remaining claims which it faces. Indirect investment in eight photovoltaic plants in Spain, through Novenergia II Energy & Environment España, S.L., a locally-incorporated company. In ad hoc arbitrations or those that are subject to non-institutional arbitral rules (e.g. Investment Policy Monitor No. The date of the last update is displayed on the Navigator’s home page. The short case name is ascribed by UNCTAD. ISDS Navigator Follow-on (post-award) proceedings include three types of legal proceedings: official documents relating to the case and information provided by the administering institutions) are the main and preferred source of information. Instances where the respondent failed to appoint an arbitrator, and the latter was appointed by an “appointing authority”, are not recorded separately (i.e. May 2020; DOI: 10.1007/978-3-030-33916-6_10. The tribunal rendered its award in February this year, ordering Spain to pay compensation of € 53,3 million for a breach of the Energy Charter Treaty’s (“ECT”) fair and equitable treatment clause. The information included in the Navigator is collected from publicly available sources. 462). • an international arbitration between an investor and a State; © Copyright - UNCTAD Division on Investment and Enterprise. ]]>, Electricity, gas, steam and air conditioning supply, See case mapped in Subject Navigator on Investor-State LawGuide, See discussion and analysis of the case on IAReporter, Procedural Order No. Please contact us using the online contact form. Case Report by: Eleni Bakalarou**, Editor Ignacio Torterola*** Summary: Claimant brought an action for relief against the Kingdom of Spain pursuant to • 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). Information about breaches found is primarily derived from the arbitral decisions. Eiser and Novenergia are both also seeking enforcement of their awards in the US courts. Tertiary: D - Electricity, gas, steam and air conditioning supply, 35 - Electricity, gas, steam and air conditioning supply, Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims, Novenergia II - Energy & Environment (SCA), SICAR v. Kingdom of Spain, Arbitral rules and administering institution, Decided in favour of neither party (liability found but no damages awarded), ISDS data set in excel format (as of 31 July 2020), https://investmentpolicy.unctad.org/investment-dispute-settlement, Investment Dispute Settlement Navigator >, Final Arbitral Award dated 15 February 2018, Decision of the Svea Court of Appeal dated 25 April 2019 (Unofficial English Translation), Decision of Svea Court of Appeal dated 27 May 2020 (English Translation), https://www.iareporter.com/articles/hearings-loom-in-previously-unpublicized-stockholm-energy-charter-treaty-claim-as-another-investor-pursues-icsid-claim/, http://www.idae.es/12523922015-adjudicacion-tecnica-especializada-para-arbitrajes, http://www.idae.es/uploads/documentos/documentos_resolucion_14-03-16_e90a6424.pdf, http://www.energycharter.org/what-we-do/dispute-settlement/investment-dispute-settlement-cases/104-novenergia-v-spain/, https://www.ecestaticos.com/file/d88ce7a07265dbf8d809b453b848f239/1514204320-186-881-tribunals-arbitratge.pdf, https://www.iareporter.com/articles/post-achmea-developments-spain-wants-court-to-ask-ecj-to-rule-on-compatibility-of-energy-charter-treaty-with-eu-law-achmea-ruling-also-touted-by-poland-as-reason-for-discontinued-bit-case/, https://www.iareporter.com/articles/spain-secures-stay-of-enforcement-of-energy-charter-treaty-award-in-swedish-court/, https://www.iareporter.com/articles/with-an-apparent-eye-on-set-aside-spain-unsuccessfully-asks-novenergia-tribunal-for-clarification-on-ect-eu-law-relationship/, https://www.iareporter.com/articles/award-in-latest-spain-loss-surfaces-and-scc-tribunal-are-seen-to-have-taken-jurisdiction-over-novenergias-claims-but-give-effect-to-energy-charter-treatys-tax-measures-carve-out/, https://www.iareporter.com/articles/on-merits-and-damages-latest-spanish-renewables-award-finds-breach-of-fet-in-radical-departure-from-earlier-regulatory-regime-and-a-dcf-based-valuation-yields-e53m-in-compensation-f/, https://www.iareporter.com/articles/analysis-now-that-first-eu-court-has-set-aside-an-intra-eu-bit-award-due-to-achmea-ruling-we-look-at-the-fate-of-three-other-awards/, https://www.transnational-dispute-management.com/downloads/21380_Case_Report_Novenergia_v_Spain_SCC_Award_2018.pdf, https://www.transnational-dispute-management.com/legal-and-regulatory-detail.asp?key=21380. ga('create', 'UA-68964108-1', 'auto'); To enable comparisons between cases, all amounts are also converted to US dollars. IIA breaches alleged and found Amount claimed refers to the amount of monetary compensation claimed by the investor, not including interest, legal costs or costs of arbitration. Additional notes: Year of initiation Novenergia v. The Kingdom of Spain, SCC Case No. Nonetheless, the Kingdom of Spain decided actively to … Proceedings may also be conducted without being administered by any institution. Conferees at the December 2018 conference that I attended were told that there are at least four award enforcement cases in US district courts at this time in which an investor from one EU Member State has won an award against another EU Member State for violations of the …

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