Alten Renewable Energy v. Spain

The case arose from a series of energy sector reforms implemented by the Spanish Government, which affected renewable energy producers. These reforms included a 7% tax on power generators' revenues and a reduction in subsidies for renewable energy production. Alten, the claimant, alleged that these regulatory changes negatively impacted its investments in photovoltaic plants in Spain. The dispute pertains to the electricity and energy supply sector, classified under renewable energies. The arbitration was discontinued before any decision on liability was rendered. Alten sought €59.40 million (approximately $69.00 million USD) in compensation for the alleged losses. The claimant alleged violations of international investment agreements, particularly the Fair and Equitable Treatment (FET) / Minimum Standard of Treatment (MST) standard, including claims related to denial of justice. Since the case was discontinued, no breaches were found, and no decision on liability was made.