UK Solar Investors Want €28M Arbitration Award Recognized

Law360 (March 26, 2020, 6:01 PM EDT) -- A British group that invested $31 million in two Spanish solar power plants is suing the country to recognize a €28.2 million ($31.1 million) arbitration award it won last August from an international tribunal.

InfraRed Environmental Infrastructure GP Ltd. and a group of British co-investors filed suit in D.C. District Court on Wednesday, seeking enforcement of the award as soon as a Feb. 21 stay is lifted.

The investors initially sought arbitration in 2014, after Spain revoked renewable energy incentives. They are among dozens of EU investors who have sought similar relief in recent years.

The suit comes one day after...

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