{"id":2779,"date":"2021-04-28T09:02:16","date_gmt":"2021-04-28T09:02:16","guid":{"rendered":"https:\/\/www.imepower.com\/?p=2779"},"modified":"2021-04-28T09:02:16","modified_gmt":"2021-04-28T09:02:16","slug":"first-international-arbitration-launched-by-renewable-investor-against-ukraine","status":"publish","type":"post","link":"https:\/\/www.imepower.com\/en\/first-international-arbitration-launched-by-renewable-investor-against-ukraine\/","title":{"rendered":"First international arbitration launched by renewable investor against Ukraine"},"content":{"rendered":"<p>Modus Energy International, part of Lithuanian Modus Group, launched international arbitration against Ukraine under the Energy Charter Treaty. The company claims that Ukraine has violated ECT by reducing relevant feed-in tariffs for solar power plants by 15% from 1 August 2020 under the Law 810-IX.<\/p>\n<p>Ministry of Justice received respective request for arbitration on 23 March 2021. The amount of damages is at least EUR 11.5 million.<\/p>\n<p>Modus operates 3 solar power plants in Ukraine (Solar Zalukva, Bolokhiv Solar Park-1, Bolokhiv Solar Park-2) with total installed capacity exceeding 46 MW. All SPPs were commissioned and received feed-in tariff in 2019.<\/p>\n<p>The Cabinet of Ministers is expected to allow today the Ministry of Justice to apply simplified procedure for hiring legal counsels to represent Ukraine in arbitration.<\/p>\n<p>According to our knowledge, the number of trigger letters submitted by renewable investors against Ukraine is in 5-10 range, while Modus is the first investor that launched full scale arbitration process.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Modus Energy International, part of Lithuanian Modus Group, launched international arbitration against Ukraine under the Energy Charter Treaty. The company claims that Ukraine has violated ECT by reducing relevant feed-in tariffs for solar power plants by 15% from 1 August 2020 under the Law 810-IX.<br \/>\nMinistry of Justice received respective request for arbitration on 23 March 2021. The amount of damages is at least EUR 11.5 million.<\/p>\n","protected":false},"author":4,"featured_media":798,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"spay_email":""},"categories":[14],"tags":[108,75],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.imepower.com\/wp-content\/uploads\/2018\/12\/01-home-page-background-image-1980px.jpg?fit=1980%2C660&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/paNCvC-IP","_links":{"self":[{"href":"https:\/\/www.imepower.com\/en\/wp-json\/wp\/v2\/posts\/2779\/"}],"collection":[{"href":"https:\/\/www.imepower.com\/en\/wp-json\/wp\/v2\/posts\/"}],"about":[{"href":"https:\/\/www.imepower.com\/en\/wp-json\/wp\/v2\/types\/post\/"}],"author":[{"embeddable":true,"href":"https:\/\/www.imepower.com\/en\/wp-json\/wp\/v2\/users\/4\/"}],"replies":[{"embeddable":true,"href":"https:\/\/www.imepower.com\/en\/wp-json\/wp\/v2\/comments\/?post=2779"}],"version-history":[{"count":1,"href":"https:\/\/www.imepower.com\/en\/wp-json\/wp\/v2\/posts\/2779\/revisions\/"}],"predecessor-version":[{"id":2781,"href":"https:\/\/www.imepower.com\/en\/wp-json\/wp\/v2\/posts\/2779\/revisions\/2781\/"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.imepower.com\/en\/wp-json\/wp\/v2\/media\/798\/"}],"wp:attachment":[{"href":"https:\/\/www.imepower.com\/en\/wp-json\/wp\/v2\/media\/?parent=2779"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.imepower.com\/en\/wp-json\/wp\/v2\/categories\/?post=2779"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.imepower.com\/en\/wp-json\/wp\/v2\/tags\/?post=2779"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}