RREEF Infrastructure (G.P.) Limited and RREEF Pan-European Infrastructure Two Lux S.à.r.l. v. Spain, ICSID Case No. ARB/13/30

>Claimant : RREEF Infrastructure (G.P.) Limited, RREEF Pan-European Infrastructure Two Lux S.à.r.l.
>Nationality : UK, Luxembourg
>Respondent : Spain
>Procedural rules applied : ICSID
>Chair : Alain Pellet
>Arbitrator appointed by Claimant : Robert Volterra
>Arbitrator appointed by Respondent : Pedro Nikken
>Invoked instruments : ECT
>Articles mentioned : Article 36 (7)
, Article 21 (7)
, Article 21 (1)
, Article 17 (1)
, Article 10 (8)
, Article 10 (4)
, Article 10 (1)
, Article 6 (1)
, Article 1 (2)
, Article 1 (3)
, Article 1 (6)
, Article 1 (7)
, Article 1 (10)
, Article 2
, Article 13
, Article 16
, Article 25
, Article 26
, Article 46
>Breaches alleged :
- (10.1) Fair and equitable treatment
> Breaches alleged :
- (10.1) Unreasonable or discriminatory measures
> Breaches alleged :
- (10.1) Umbrella clause
>Breaches found :(10.1) Fair and equitable treatment
>Case status : Award rendered but investors renounced their right to collect damages
>Year of the award or agreement : 2019
>Follow-on proceedings : Pending ICSID annulment proceedings
>Year of registration : 2013

>Subject matter of the dispute: Legal reforms affecting the renewable energy sector
>Amount claimed: EUR 441 million
>Amount awarded: EUR 59.6 million
>Valuation method: income-based approach (discounted cash flow)
>Interest rate: host State's sovereign bonds (10-year)
>Costs of arbitration: N/A
>Award legal costs: Each party bears its own legal costs
>Award costs of arbitration: Parties share costs equally

ARBITRAL DECISIONS

6 June 2016

30 November 2018

Decision on Responsibility and on the Principles of Quantum

30 November 2018

11 December 2019

Award