Originally from the Journal of Damages in International Arbitration

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CEF ENERGIA B.V. V. THE ITALIAN REPUBLIC, SCC ARBITRATION V (2015/158) 
AWARD, JANUARY 16, 2019

The Parties
CEF Energia B.V. (“Claimant”) 
The Italian Republic (“Respondent” or “Italy”)

Sector
Solar Energy 

Applicable Treaty
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)

I.  BACKGROUND

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.