CEF ENERGIA B.V. V. THE ITALIAN REPUBLIC, SCC ARBITRATION V (2015/158)
AWARD, JANUARY 16, 2019
CEF Energia B.V. (“Claimant”)
The Italian Republic (“Respondent” or “Italy”)
The Energy Charter Treaty (“ECT”)
Members of the Tribunal
Mr Klaus Reichert, S.C. (Presiding arbitrator); Prof. Dr. Klaus Sachs (Claimant’s appointee); Prof. Giorgio Sacerdoti (Respondent’s appointee)
Between 2005 and 2012, the Italian Government implemented certain measures and incentive schemes for photovoltaic (“PV”) plants in order to encourage investment in the sector. Italy wanted to encourage investment so that it could meet EU Community targets for the generation and use of renewable energy sources.