According to media reports, on 16 September, Slovenian company Viaduct has filed a request to initiate arbitration procedure in order to seek compensation for damages caused by violating the provisions of the agreement on the protection of investments between Slovenia and Bosnia and Herzegovina (BiH), as well as the provisions of the Energy Charter Treaty also signed by both Slovenia and BiH.
Slovenian investor, through its local subsidiary HES Vrbas, has concluded a concession agreement with the Government of the Republic of Srpska (RS) on 25 November 2004 for the construction of two hydropower plants on Vrbas river (HPP Krupa with 48.5 MW of installed capacity and HPP Banja Luka with 37.2 MW), which was terminated on 29 September 2015 due to non-realization. The interests of the investor in this arbitration procedure are represented by US law firms Scrantom Dulles International LLC and Mitchell, Silberberg & Knupp LLP.
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Tags: arbitration, BIH, Bosnia and Herzegovina, HES Vrbas, HPP, hydro, RS, Slovenia, Viaduct, Vrbas