- PCA tribunal finds against investors in Czech solar power arbitration (Wirtgen, JSW Solar and others v Czech Republic)
- What is the importance of the decision?
- What are the practical implications of the award, and how might it affect practitioners in the way they advise their clients?
- What was the background?
- What did the tribunal decide?
Arbitration analysis: Clifford J Hendel, partner with the Spanish law firm Araoz & Rueda, examines a Permanent Court of Arbitration (PCA) tribunal’s rejection of the claimant foreign investors’ case that the respondent state had breached its obligations to them under a bilateral investment treaty (BIT) when it amended its incentive regime for the renewable energy sector after they had invested in that sector by constructing and operating three solar photovoltaic plants in the Czech Republic.
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