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- Greentech and Novenergia v. Italy
Greentech and Novenergia v. Italy
Geography
International
Year
2015
Document Type
Litigation
About this case
Filing year
2015
Status
Decided
Geography
International
Court/admin entity
–
Case category
Suits against governments (Global) → Trade and Investment (Global) → Rollback of climate-justified measures (Global)
Principal law
–
At issue
Claims arising out of a series of governmental decrees to prematurely cut tariff incentives for photovoltaic plants.
Topics
, ,
Documents
Filing Date
Document
Type
Topics
Beta
Search results
Summary
In 2015, two companies based in Denmark and Luxembourg invested in photovoltaic (PV) plants across Italy. The plants benefited from a feed-in tariff scheme, which was originally intended to run for a period of 20 years from each PV plant's connection to the grid. In 2015, a new Decree Law came into force which modified the amount and duration of incentive tariffs. The claimants alleged that this constituted a violation of the fair and equal treatment clause of the Energy Charter Treaty and claimed compensation.
In 2019 the Arbitral Tribunal found that Italy had breached the relevant provisions of the Charter and awarded the companies compensation of USD $13.6 million.
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Group
Topics
Target
Policy instrument
Risk
Impacted group
Just transition
Renewable energy
Fossil fuel
Greenhouse gas
Economic sector
Adaptation/resilience
Finance