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Investment treaty awardUnpaid

9REN Holding v. Spain

Cuts to solar incentives

Headline amount
€41.8M≈$46.8M · Principal
Respondent
SpainState
Awarded
May 31, 2019
Status
UnpaidNothing collected

Latest development Oct 21, 2026

The D.D.C. issued a further order in the enforcement case.

The award

Amount awarded
About €41.8M plus interest
Current estimate
About €44M with interest and costs
Award holder
9REN Holding Sàrl
Respondent
Kingdom of Spain
Forum
ICSID ARB/15/15 · ECT

Challenges

Annulment rejected.

Enforcement

United States: D.D.C. (19-cv-1871) summary judgment on September 29, 2025. The Supreme Court denied cert on June 29, 2026. A post-judgment interest order followed on October 6, 2026.

Recovered to date

None