BayWa r.e. Renewable Energy GmbH and BayWa r.e. Asset Holding GmbH v. Spain, ICSID Case No. ARB/15/16

>Claimant : BayWa r.e. Renewable Energy GmbH, BayWa r.e. Asset Holding GmbH
>Nationality : Germany, Germany
>Respondent : Spain
>Procedural rules applied : ICSID
>Chair : James Crawford
>Arbitrator appointed by Claimant : Horacio Grigera Naon
>Arbitrator appointed by Respondent : Loretta Malintoppi
>Invoked instruments : ECT
>Articles mentioned : Article 26 (6)
, Article 21 (7)
, Article 21 (5)
, Article 21 (3)
, Article 13 (1)
, Article 10 (7)
, Article 10 (2)
, Article 10 (1)
, Article 1 (2)
, Article 1 (3)
, Article 1 (10)
, Article 1
, Article 2
, Article 10
, Article 13
, Article 16
, Article 21
, Article 26
>Breaches alleged :
- (10.1) Fair and equitable treatment
> Breaches alleged :
- (10.1) Most constant protection and security
> Breaches alleged :
- (10.1) Umbrella clause
> Breaches alleged :
- (13.1) Expropriation
>Breaches found :(10.1) Fair and equitable treatment
>Case status : Award rendered
>Year of the award or agreement : 2021
>Follow-on proceedings : Pending ICSID annulment proceedings
>Year of registration : 2015

>Subject matter of the dispute: Legal reforms affecting the renewable energy sector
>Amount claimed: EUR 61.931.524
>Amount awarded: EUR 22.006 million
>Valuation method: income-based approach (see Award, para 27: present value of the future payments the claimants were deprived of as a result of the breach calculated by reference to the disputed regulatory measures)
>Interest rate: EURIBOR (6-month)
>Costs of arbitration : N/A
>Award legal costs : N/A
>Award costs of arbitration : N/A

ARBITRAL DECISIONS

2 December 2019

Decision on Jurisdiction, Liability and Directions on Quantum

2 December 2019

Dissenting Opinion of Horacio A. Grigera Naón

25 January 2021