Brussels loses bid to join legal fight over Spanish green subsidies

A UK court has thrown out a bid by the European Commission to join a legal battle in which Spain is seeking to avoid paying millions of dollars in compensation to renewable energy investors.

Two private equity investors, Infrastructure Services Luxembourg and Energia Termosolar, are fighting the Spanish government to enforce a $101mn arbitration award won in a 2018 case against Madrid over its withdrawal of an incentive scheme for renewable energy investments.