Litigation funder supports action against Spain

10.02.2015

The Spanish government is to be taken to an arbitration court over the reductions in the feed-in tariffs for renewable energy. Are the plaintiff's chances so good that an international litigation funder is willing to get involved?

The Madrid law firm DIKEOS Abogados claims to be close to signing an agreement with a renowned London litigation funder on financing arbitration proceedings against the Spanish government.

The subject of the arbitration proceedings, which will be carried out in Stockholm, is the reduction in the feed-in tariff for renewable energy projects that was implemented in Spain last year. Under the agreement, the litigation funder will pay all costs of arbitration, and if the proceedings are successful, it will receive a 25% share of the money awarded to the plaintiff by the arbitration court. "Working with a litigation funder is practically the only way our clients can initiate multi-million dollar arbitration proceedings against Spain," said Richard Wicke, the partner in charge of the case at DIKEOS.

A litigation funder analyses the prospects of success and if it is confident that the chances of winning are good, it will usually cover a part or all of the cost of litigation, including lawyer and court fees, and will receive a pre-agreed portion of the disputed sum of money as compensation. Exactly who intends to sue the Spanish government in an arbitration court in this particular case was not disclosed.

Volker Buddensiek

Similar Entries

Energy Taiwan is the largest and most professional renewable energy trading platform in Taiwan

Energy Taiwan is jointly organized by the Taiwan External Trade Development Council (TAITRA) and SEMI. The event will take place from October 16-18, 2019 at the Nangang Exhibition Center Hall 1. The exhibition will feature four major energy themes, PV Taiwan, Wind Energy Taiwan, HFC Taiwan, and Smart Storage Taiwan. It is expected to attract more than 10,000 domestic and foreign buyers of related industries. Over 15 seminars will be organized during the exhibition. Energy Taiwan is the most important trading platform for renewable energy.

Stewart Mitchell and Mikkel Lund

Sparrows Group has seen its position in the renewables market strengthened one year on from the acquisition of Alpha Offshore Service. The company confirmed that Danish-based Alpha’s revenue has increased by 46% in the past 12 months.

Schaeffler now offers its FAG flanged rotor bearing as a matched system comprising a bearing unit, lubricant, and sensors (pict.: Schaeffler)

How can typical rolling bearing damage in wind turbines, particularly in their rotor bearing supports, be identified early and even prevented altogether? Schaeffler has a solution to this complex challenge: A combination of sensors that are capable of monitoring the critical influencing variables for these types of damage.

(pict.: Siemens Gamesa)

Siemens Gamesa Renewable Energy (SGRE) has secured a new order in India from ReNew Power, India’s largest renewable energy Independent Power Producer (IPP). The scope includes the supply of 270 units of the SG 2.1-122 wind turbines, with a total capacity of 567 MW, to two wind power facilities.