STEAG GmbH v. Spain, ICSID Case No. ARB/15/4

  • >Claimant : STEAG GmbH
  • >Nationality : Germany
  • >Respondent : Spain
  • >Procedural rules applied : ICSID
  • >Chair : Eduardo Zuleta
  • >Arbitrator appointed by Claimant : Guido Santiago Tawil
  • >Arbitrator appointed by Respondent : Pierre-Marie Dupuy
  • >Invoked instruments : ECT
  • >Articles mentioned : Article 36 (7)
  • , Article 26 (1)
  • , Article 26 (2)
  • , Article 26 (3)
  • , Article 26 (4)
  • , Article 26 (5)
  • , Article 26 (6)
  • , Article 26 (8)
  • , Article 21 (7)
  • , Article 21 (5)
  • , Article 21 (4)
  • , Article 21 (3)
  • , Article 21 (2)
  • , Article 13 (1)
  • , Article 13 (3)
  • , Article 10 (8)
  • , Article 10 (7)
  • , Article 10 (1)
  • , Article 1 (2)
  • , Article 1 (3)
  • , Article 1 (6)
  • , Article 1 (7)
  • , Article 1 (8)
  • , Article 1 (10)
  • , Article 2
  • , Article 13
  • , Article 16
  • , Article 21
  • , Article 25
  • , Article 26
  • , Article 46
  • >Breaches alleged :  
  • >Breaches found :(10.1) Fair and equitable treatment
  • >Case status : Pending
  • >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 79 million
  • >Amount awarded: EUR 27,675,000 
  • >Valuation method: income-based approach (discounted cash flow)
  • > Interest rate: host State's sovereign bonds (10-year)
  • >Costs of arbitration: USD 1,112,914.37
  • >Award legal costs: Claimant was awarded EUR 1,412,221.062 (70% of legal costs)
  • >Award costs of arbitration: Parties share costs equally 

 

ARBITRAL DECISIONS


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