EU Opens Probe Into Bulgaria Compensation Award to Foreign Investor

EU opens probe into Bulgaria compensation award to foreign investor

The European Commission has launched an in-depth investigation to assess whether a €61 million ($71.6 million) arbitration award in favor of Malta-based ACF Renewable Energy is compatible with EU State aid rules.The European Commission said it will investigate an arbitration award ordering Bulgaria to pay €61.04 million plus interest to ACF Renewable Energy Ltd., which invested in a Bulgarian solar plant under a 2011 renewable energy support sch…

Commission opens in-depth investigation into arbitration award ordering Bulgaria to pay compensation to ACF - The European Sting - Critical News & Insights on European Politics, Economy, Foreign Affairs, Business & Technology - europeansting.com European

(Credit: Unsplash) This article is brought to you in association with the European Commission. The European Commission has opened an in-depth investigation to assess whether an arbitration award, in which Bulgaria is ordered to pay compensation to ACF Renewable Energy Limited for changes to a renewable electricity support measure, is in line with EU State aid rules. The Commission’s investigation In 2011, Bulgaria established a scheme to support…