• International Remedies for Foreign Investors in Bulgaria's Renewable Energy Sector
  • September 17, 2015 | Authors: Sylvia Tonova; Baiju S. Vasani
  • Law Firm: Jones Day - London Office
  • Foreign investors who have suffered losses in the renewable energy sectors in Bulgaria may be entitled to compensation under Bulgaria’s numerous bilateral investment treaties (“BITs”) and/or the Energy Charter Treaty (“ECT”). In 2009, the European Union (“EU”) issued a directive setting the goal that, by 2020, at least 20 percent of the energy consumed in the European Union shall be in the form of renewable energy.1 For Bulgaria, in particular, the target was set at 16 percent.2