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DR Says $287.6M Wind Farm Claim Was Rightly Denied
Law360 (July 21, 2021, 7:00 PM EDT) The Dominican Republic told a Florida federal court that an international tribunal was right to deny a lost profits claim valued as high as $287.6 million brought by a subsidiary of Spanish renewable energy company Grupo Solesfero over a wind farm deal that fell through.
The Dominican Republic said in a brief Tuesday that the International Chamber of Commerce s denial of Dominicana Renovables SL s lost profit claim was sufficiently reasoned and that the court should not reject that decision just because the company disagreed with the result. Plus, the country argued the wind farm company brought its objections too late..
Ecuador power company discovers more problems at Chinese-built plant Ecuador s power company CELEC has found new problems at its Coca Codo Sinclair hydroelectric plant that threaten water flow and electricity generation, the company s chief executive said, the latest issue at the facility built by China s Sinohydro Corp. The findings come after CELEC in May requested arbitration through the International Chamber of Commerce to settle a dispute over cracks in the 1,500-megawatt plant s machinery that have prevented it from operating at full capacity since it was completed in 2016, after $2.2 billion in construction costs.
Reuters | Updated: 20-07-2021 22:19 IST | Created: 20-07-2021 22:16 IST