Summary

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12. CONCLUSION

The Commission concludes that the Award, and in any event its Implementation, entails State aid which is not compatible with the internal market because it is based on an interpretation of the ECT in breach of the Union law. Therefore, Spain shall recover any payment of the aid, including from any third party that has acquired or may acquire the Award, or any right thereunder. In addition to not paying, implementing, or executing the Award, Spain shall ensure that no payment, execution, or implementation of the Award shall otherwise be effected from the date of adoption of this Decision, and shall recover any monies effectively transferred as a result of that payment, implementation or execution. In order to comply with its obligations under Article 108(3) TFEU, Spain shall also take all appropriate measures to prevent Antin, and any third party that has acquired or may acquire the Award, or any right thereunder, from seeking recognition, enforcement and execution of the Award, whether in Member States of the Union or in third countries,

HAS ADOPTED THIS DECISION:

Article 1

The award rendered by the arbitration tribunal established under the auspices of the International Centre for Settlement of Investment Disputes in the arbitration proceedings Antin Infrastructure Services Luxembourg S.à.r.l. and Antin Energia Termosolar B.V. vs Spain in favour of Antin Infrastructure Services Luxembourg S.à.r.l. and Antin Energia Termosolar B.V. (ICSID Case No ARB/13/31) constitutes State aid within the meaning of Article 107(1) of the Treaty on the Functioning of the European Union which is incompatible with the internal market.

In any event, the payment, implementation or execution of the award rendered by the arbitration tribunal established under the auspices of the International Centre for Settlement of Investment Disputes in the context of the arbitration proceedings Antin Infrastructure Services Luxembourg S.à.r.l. and Antin Energia Termosolar B.V. vs Spain in favour of Antin Infrastructure Services Luxembourg S.à.r.l. and Antin Energia Termosolar B.V. constitutes State aid within the meaning of Article 107(1) of the Treaty on the Functioning of the European Union which is incompatible with the internal market.

Article 2

The Kingdom of Spain shall not pay out any of the aid referred to in Article 1 and shall ensure that no payments of the aid referred to in Article 1 shall be effected from the date of adoption of this Decision.

Article 3

The Kingdom of Spain shall take all appropriate measures to prevent Antin Infrastructure Services Luxembourg S.à.r.l., Antin Energia Termosolar B.V, and any third party that has acquired or may acquire the award referred to in Article 1, or any right thereunder, from seeking recognition, enforcement or execution of the award, whether in Member States of the European Union or in third countries.

Article 4

The Kingdom of Spain shall recover any payment of the aid referred to in Article 1 to Antin Infrastructure Services Luxembourg S.à.r.l., Antin Energia Termosolar B.V, and to any third party that has acquired or may acquire the award referred to in Article 1, or any right thereunder, including payment resulting from forced execution arising in third countries.

Article 5

This Decision is addressed to the Kingdom of Spain.

Done at Brussels, 24.3.2025

For the Commission

Valdis DOMBROVSKIS
Member of the Commission