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The Warsaw Voice » Law » April 25, 2018
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700 million for losses of wind farms
April 25, 2018   
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The Polish government is facing an arbitrage from US energy firm Invenergy seeking some USD 700 million in compensation for losses incurred by its Polish wind farms due to the termination of energy and green certificate purchase contracts by state-run power groups Energa and Tauron, the daily Puls Biznesu writes citing Invenergy senior VP Michael Blazer.
Invenergy will file the arbitration motion on Tuesday. The company had first sought justice in Polish courts, but these courts' rulings were ignored by the Polish energy companies, Invenergy said in a statement. Also the attempts to get in touch with the Polish government failed, Blazer adds.
Invenergy wants a Swiss arbitration court to look into the matter, according to Puls Biznesu. Energa is in conciliatory talks with part of the wind farms and some of the talks are at a very advanced stage, Energa spokesperson Adam Kasprzyk says as cited by the daily Dziennik Gazeta Prawna.
Invenergy stands a chance to win the arbitration, but is unlikely to be awarded the entire amount of the compensation it is seeking, experts believe.
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