Kenya Says It Prevailed In $340M Geothermal Arbitration

Law360 (July 13, 2020, 6:45 PM EDT) -- Kenya escaped a $340 million arbitration brought by a U.S. and Canadian firm over a soured geothermal energy project that had been aimed at helping the country transition over from diesel electrical generation and hydroelectric power, its attorney general said on Saturday.

An International Centre for Settlement of Investment Disputes tribunal dismissed all of WalAm Energy LLC's claims in an award issued on Friday, according to a statement issued by Kenyan attorney general P. Kihara Kariuki. A copy of the award had not been made public by Monday, although the ICSID case registry reflected that it had been issued.

The dispute...

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