Spain must pay around 300 million euros to the German multinational E.ON for a new sentence related to the retroactive withdrawal of premiums for renewables, according to the latest ruling from the International Center for Settlement of Investment Disputes (ICSID), belonging to the World Bank
The court issued the award dated January 18, 2024 and has not yet communicated the exact amount of compensation, but sources familiar with the ruling do explain that it would be around 90% of the money that E.ON had demanded. was 324.7 million.
This is the twenty-sixth sentence against Spain for this cause and the largest to date. The total of the previous 25 amounted to joint compensation of more than 1,200 million, a figure to which we must add 250 million for late payment interest, costs sentences and expenses for consultants and lawyers.
Spain has refused to pay these compensations, which places it as the country with the highest number of outstanding awards, above Russia and on par with Venezuela.
The affected companies have seized various Spanish assets in the United Kingdom and are preparing similar actions in the United States.
