MIDEAST BACKS AWAY FROM SPAIN’S CSP

Masdar versus Spain: say adios to CSP investors? Spain’s administration seems unperturbed at the growing queue for arbitration over loss of CSP earnings. But it may need to think twice about wooing foreign investors in future.

Heba Hashem/Jason Deign, March 21, 2014 (CSP Today)

“Spain’s ability to attract future CSP investors looks increasingly in doubt as the number of international backers embarking on arbitration proceedings grows…Abu Dhabi’s leading clean energy player, Masdar, became the fourth international CSP investor to present a claim against Spain at the World Bank’s International Centre for Settlement of Investment Disputes (ICSID), for loss of earnings caused by policy changes…Masdar has investments in three CSP projects in Spain, including Torresol Energy’s landmark Gemasolar plant, which was opened in October 2011…Since then, however, relations between the two countries appear to have soured…[because of reduced] support schemes that originally attracted foreign investors…” click here for more

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