Hydropower investors seek $ 36 million price tag in Spain

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By Caroline Simson (September 21, 2021, 6:52 p.m. EDT) – Spain faces litigation filed Monday in Washington, DC, by a pair of European renewable energy investors seeking to enforce close arbitration € 31 million ($ 36.4 million) prize they won last summer after investing more than double that amount in a multi-plant hydropower project.

Hydro Energy 1 SARL and Hydroxana Sweden AB told court the country had no choice but to pay the price, which they won after an international tribunal found Spain had violated a treaty underlying investment after recalling and ultimately canceling the economic incentives for such projects.

The court ordered Spain to pay the companies …

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