Investment Arbitration and Renewable Energy Disputes

This chapter aims to analyze the legal implications of arbitral awards issued thus far in arbitration proceedings initiated by foreign investors with economic interests in the renewable energy sector in the European Union, particularly in Spain. To achieve this, the impact on governments’ defense in pending arbitrations will be assessed. In this regard, focus will be placed on the substantive and procedural aspects of disputes under the Energy Charter Treaty, such as the obligation to provide fair and equitable treatment, the prohibition of expropriation without compensation, and procedural objections raised by governments against arbitral tribunals, especially following the Achmea case.