Masdar Solar and Wind Cooperatief UA v Spain, Award, ICSID Case No ARB/14/1, IIC 1375 (2018), despatched 16th May 2018
Whether the acts of Masdar Solar and Wind Cooperatief UA (‘Masdar’), as a separate entity, can be attributed to the State of Abu Dhabi, either because it exercises governmental authority or because it is under the effective control of the state in its investment activities.
Whether Masdar had made an ‘investment’ in Spain for the purposes of Article 1(6) of the Energy Charter Treaty (‘ECT’) and Article 25 of the Convention on the Settlement of Investment Disputes between States and Nationals of Other States.
Whether the denial of benefits clause set out in Article 17 of the ECT can be invoked retrospectively.
Which kind of specific commitments can give rise to protected legitimate expectations under the fair and equitable standard of the ECT.
Whether, in light of the arguments raised in Achmea BV v Slovakia, Article 26 of the ECT would apply to claims of an investor from one European Union (‘EU’) Member State against another EU Member State?