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Investment treaty awardUnpaid

EDF Energies Nouvelles v. Spain

Cuts to renewable energy incentives

Headline amount
€29.6M≈$33.1M · Principal
Respondent
SpainState
Awarded
Apr 11, 2023
Status
UnpaidNothing collected

Latest development Apr 3, 2024

The Swiss Federal Supreme Court upheld the award.

The award

Amount awarded
€29.6M
Award holder
EDF Energies Nouvelles S.A. (Électricité de France group)
Respondent
Kingdom of Spain
Forum
PCA Case No. AA613 · ECT · seat Geneva

Challenges

The Swiss Federal Supreme Court upheld the award on April 3, 2024 and declined to follow the CJEU’s Komstroy reading of the ECT.

Enforcement

No enforcement action verified.

Recovered to date

None reported. Spanish press reports that Spain has paid only one renewables award (JGC Holdings, 2025).

Notes

Payment status rests on press reports that Spain has paid no renewables award other than JGC.