Inversiones Energeticas, which holds a stake in El Salvador’s LaGeo geothermal plant, is appealing against an International Court of Law ruling, which gave the project’s Italian investors the right to take-over the plant
According to the El Faro newspaper, this could extend the legal battle for up to a year.
Enel Green Power had said it provided capital on the basis of it acquiring the 95 MW geothermal plant.
However, the Comision Ejecutiva Hidroelectrica del Río Lempa (Cel) through Inversiones Energéticas appealed against the take-over to the Arbitration Court in France.
The French court subsequently ruled in favour of Enel Green Power, and this is the ruling that Inversiones Energeticas is now appealing against.
For more Business news click here.
For more Geothermal Power news click here.