Renewable Energy Investors in Spain: Legal Disputes and New Compensation Framework

This paper examines the decisions of national and international courts of arbitration in relation to the downwards modifications in the scheme for renewable energy incentives in Spain, during the years 2013 and 2014. This provides an insight of the current situation of investors whose profit expectations fell short after the scheme reform, and who were therefore awarded compensations by international courts of arbitration. On this basis, the research offers an analysis of the new remuneration regime for energy production in Spain (Royal Decree-Law 17/2019), and its potential implications on future investment decisions in this sector.