PARIS COURT OF APPEALS UPHOLDS INTERNATIONAL COURT OF ARBITRATION RULING IN FAVOUR OF ENEL GREEN POWER IN LAGEO CASE

Published on Wednesday, 9 January 2013

Decision concerning the joint venture with Inversiones Energeticas (INE) for the development of geothermal energy in El Salvador is upheld

Rome and San Salvador, January 9th, 2013 – The Paris Court of Appeals yesterday upheld the ruling of the Court of Arbitration of the International Chamber of Commerce (ICC) regarding the international arbitration proceeding undertaken by Enel Green Power against Inversiones Energeticas (INE), its partner in LaGeo, a joint venture for the development of geothermal energy in El Salvador.

The Paris Court rejected the appeal lodged by INE to void the ruling in favour of Enel Green Power, confirming that the judgement had been issued following a fair trial.

The Court of Appeals’ decision reaffirms Enel Green Power’s right to consider investments in LaGeo as contributions to capital through the subscription of newly issued shares of the joint venture.

 

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Economic | January, 09 2013

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