On Monday 19 July, the European Commission decided to open an in-depth investigation to determine whether an arbitration award requiring Spain to pay compensation to Antin for aid not received following the modification of a support measure for electricity from renewable sources is in line with EU State aid rules.
On 10 November 2017, the Commission had endorsed the Spanish aid scheme for electricity from renewable sources.
Antin Infrastructure Services Luxembourg S.à.r.l. and Antin Energia Termosolar B.V. (Antin), incorporated in Luxembourg and the Netherlands respectively, had invested in renewable energy facilities in Spain. Antin initiated an arbitration procedure to obtain compensation for the unpaid aid it allegedly received on the basis of the 2007 scheme.
A 2018 arbitration award found that Spain had breached the Energy Charter Treaty. The arbitral tribunal ordered Spain to compensate Antin for the incurred losses.
At this stage, the Commission considers that the arbitral award would constitute State aid, as it grants Antin an advantage equivalent to those provided for by the non-notified 2007 Spanish scheme. The Commission’s doubts particularly relate to the award’s compliance with the principles of mutual trust and autonomy under EU law.
For more information: https://bit.ly/3rjm2A0 (Original version in French by Lionel Changeur)