Spain Can’t Claim State Immunity in Solar Dispute, UK Top Court Says

Renewable energy investors are one step closer to seizing a property owned by the Spanish government in an affluent part of London, following a UK Supreme Court ruling, in order to enforce a €120 million ($139 million) arbitration award.

The two firms — Infrastructure Services Luxembourg Sarl and Energia Termosolar BV — invested in a Spanish solar facility in 2008. They both claim that the country owes them millions after the government began removing subsidies for solar projects after 2011, as the country sought to shrink its budget deficit.