US Court Backs Enforcing Arbitration Award Against Spain in Renewables Saga
- Claimants say they can initiate recovery of pending payments
- Case dates back to 2007 pledge aimed at boosting renewables
This article is for subscribers only.
A federal court for the District of Columbia authorized the enforcement of an arbitration award favoring one of the companies affected by Spain’s retroactive withdrawal of renewable premiums, according to a court document seen by Bloomberg.
With the ruling filed Thursday, the claimants will be able to initiate proceedings for the recovery of pending payments through the seizure of Spanish commercial assets in the US and issue subpoenas against Spanish officials, Blasket Renewable Investments LLC — which bought the claims in a case first linked to Japan’s JGC Corp. — said in a release Friday.