Retroactive scrapping of feed-in tariffs in the early 2010s lands Madrid in major defeat against developer NextEra, which sought arbitration over project losses.
Country fails to dismiss case brought by bankrupt developer over losses from FiT changes, joins Spain among EU states risking multi-million payouts for policy u-turns.
Arbitration court finds NextEra Energy is entitled to compensation after having to shelve Spanish subsidiary when the country scrapped feed-in tariffs retroactively.
