Opening of In-Depth Investigation into Arbitration Award Ordering Bulgaria to Compensate ACF published in the OJ
The Commission has published in the Official Journal (OJ) the opening of the in-depth investigation procedure regarding the arbitration award ordering Bulgaria to pay ACF Renewable Energy Limited compensation for regulatory changes to its 2011 renewable electricity support scheme. The award, issued on 5 January 2024, grants ACF EUR 61.04 million plus interest. Bulgaria has notified the award to the Commission but has not yet paid the compensation.
The Commission’s assessment indicates that the award, and any potential implementation, may constitute State aid within the meaning of Article 107(1) TFEU.
Furthermore, the Commission found that the award is incompatible with the EU legal order as it conflicts with Article 19(1) TEU and Articles 267 and 344 TFEU, which govern the exclusive jurisdiction of the Court of Justice of the European Union and the uniform application of Union law.
Bulgaria and interested third parties can submit comments until the 3rd of April 2026. Clayton & Segura can help you to prepare and submit your comments.
For more information, see the publication in the OJ and our previous PR.