Spain asks U.S. Supreme Court to block enforcement of renewable energy awards

Spain's government is seeking intervention from the U.S. Supreme Court to block the enforcement of international arbitration rulings against it in American courts. The legal battle originates from a 2013 Spanish law that altered the compensation framework for renewable energy projects, leading to a wave of arbitration claims from affected investors.

The Spanish Ministry for Ecological Transition stated that U.S. courts do not have jurisdiction to enforce these awards, which are contrary to Spain's interests. The government views the registration of these rulings in U.S. federal courts, particularly in states where Spain might play during the World Cup, as a formal step by creditors. Spain contends that any attempt to seize state assets would require a separate legal process where it can defend its position.

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is only formal

Sources from the ministry described the creditors' actions as a maneuver to generate "media noise." This legal dispute involves investors, including the fund Blasket, who have registered favorable arbitration awards in U.S. jurisdictions. A recent ruling by a D.C. district judge rejected Spain's attempt to halt enforcement, citing a lack of timely payment or guarantees, which emboldened creditors to pursue asset seizure. The U.S. government has also advised its Supreme Court to reject Spain's appeal.

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media noise