Spain Makes First Payment in Lengthy Renewable Energy Fight (1)

The Spanish government made its first payment as a result of an arbitration decision in 2021 around the country’s move to change investor incentives tied to renewable energy projects, following a number of lengthy legal battles between Spain and various creditors.

An entity called Blasket Renewable Investments, which petitioned a claim against the country in the US, notified a US federal court on Wednesday that Spain had “fully satisfied” a final judgment ordering the payment, court documents show, without specifying how much was paid.

The original World Bank award in May 2021 totaled €23.5 million ($26.8 million), separate court documents ...