Rome and San Salvador, January 9th, 2013 The Paris Court of Appeals yesterday upheld the ruling of the Court of Arbitration of the International Chamber of Commerce (ICC) regarding the international arbitration proceeding undertaken by Enel Green Power against Inversiones Energeticas (INE), its partner in LaGeo, a joint venture for the development of geothermal energy in El Salvador.
The Paris Court rejected the appeal lodged by INE to void the ruling in favour of Enel Green Power, confirming that the judgement had been issued following a fair trial.
The Court of Appeals decision reaffirms Enel Green Powers right to consider investments in LaGeo as contributions to capital through the subscription of newly issued shares of the joint venture.
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