The UK Supreme Court has ruled Spain cannot invoke state immunity to block the enforcement of a €120 million ($139 million) arbitration award against it, clearing the way for renewable energy investors to seize property in London. The ruling directly benefits Infrastructure Services Luxembourg Sarl and Energia Termosolar BV, who invested in a Spanish solar facility in 2008. They allege Spain owes them millions after removing subsidies for solar projects in 2011 to address its budget deficit.

The court dismissed Spain's attempt to prevent asset seizure, stating the country is bound by the 1965 Convention on Investment Disputes, meaning UK courts have jurisdiction over the award enforcement. This decision marks a significant legal precedent for investors pursuing unpaid arbitration awards against sovereign states.