Enel Green Power
The Brattle Group was retained to advise Enel Green Power in its action against Inversiones Energéticas S.A. de C.V. (INE) and Comisión Ejecutiva Hidroeléctrica del Río Lempa (CEL). INE and CEL were Salvadoran state agencies that owned and operated a geothermal power producer, LaGeo. Enel was granted the right to acquire an ownership stake in LaGeo. The shareholders’ agreement permitted Enel to increase its ownership stake in LaGeo to a controlling stake, but the state-owned entities refused to issue additional shares to Enel. An ICC arbitration tribunal, followed by the Supreme Court in Paris, granted Enel’s right to subscribe for additional shares to achieve a controlling stake in LaGeo.