Extra Judicial Dialogue Between El Salvador and ENEL

At the request of the parties, arbitration and dialogue has been suspended for 30 days in order to reach an agreement over the shareholding structure of the company LaGeo.

Friday, November 21, 2014

From a statement issued by the Government of El Salvador:

Talks to find solutions to disputes between the State of El Salvador and the Italian company ENEL Green Power, over the ownership structure of the company LAGEO SA, de CV, started today in Washington, DC, with a meeting taking place on the premises of the International Centre for Settlement of Investment Disputes (ICSID), which is the forum for arbitration and conciliation of the World Bank Group.

It has been established that a high level dialogue will take place made up of the Attorney General of the Republic, Luis Martinez and their national and international advisers, the President of CEL, David López Villafuerte, and the Secretary for Legislative and Legal Matters of the President, Ruben Alvarado, from El Salvador; as well as top executives from the Italian company ENEL Green Power, with their respective advisers.



More on this topic

El Salvador: End of Legal Dispute with Enel Green Power

September 2015

The settlement was made through the purchase of the Salvadoran Government for $280 million stake in geothermal LaGeo which owns the Italian company.

From a statement issued by the Executive Hydroelectric Commission of the Lempa River:

While in El Salvador preparations are being made to celebrate the country's independence, in Washington representatives of the Salvadoran government and the Italian company ENEL GREEN POWER are putting and an end to a long running dispute. The agreement allows the Salvadoran State to recover the total shares of LaGeo that had been held by the Italian company.

Preliminary Agreement Between El Salvador and Enel Green Power

December 2014

The Attorney General Prosecutor's Office has announced that the government and the Italian company Enel Green Power have reached an agreement to end the conflict over the ownership structure of LaGeo.

From a statement issued by the Attorney General of the Republic of El Salvador (FGR):

Lawsuit Against El Salvador for Investment in LAGEO

August 2013

The Italian consortium Enel has filed a case against the Salvadoran State with the ICSID over a dispute on equity interest in the geothermal plant.

The case was filed with the International Centre for Settlement of Investment Disputes (ICSID).

The lawsuit, according to the company, is due to the government trying to be more involved in LaGeo, and also because they believe they have been denied their legitimate rights.

El Salvador: LaGeo Case Affecting Country's Image

August 2011

The dispute between the Italian company Enel and the CEL and INE commissions has sent a negative message to foreign investors.

In the opinion of experts, the fact that by the Ente Nazionale per l'Energia elettrica (Enel) and the Lempa River Hydroelectric Executive (CEL) are going through an arbitration process in order to decide who gets majority control of the geothermal plant, could be affecting the country’s attractiveness in terms of foreign investment.

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