(PHOTO CREDITS: Courtesy CITIZEN DIGITAL)
Kenyan Gov’t to be paid Ksh.538M after court throws out lawsuit by Canada-based geothermal firm
By Citizen Reporter For Citizen Digital
Published on: July 11, 2020 17:04 (EAT)
The Kenya Government is to be paid an estimated Ksh.538million after a lawsuit by a Canada-based geothermal firm was dismissed.
The arbitration at the International Centre for Settlement of Investment Disputes had been filed by WalAm Energy Inc, a United States/ Canadian geothermal company headquartered in Canada.
“The dispute relates to Suswa geothermal fields and was filed in ICSID in February 2015. The hearing took place in London in May 2018,” a statement from Attorney General Paul Kihara Kariuki reads.
According to the AG, WalAm Energy Inc. sued the Kenyan Government following the cancellation of its Geothermal Resources License.
He stated that WalAM Inc. contended that the Government of Kenya unlawfully revoked the Geothermal Resources License thereby breaching its obligations under the Geothermal Resources License and the Geothermal Resources Act, including, the unlawful expropriation and the violation of the minimum standard of treatment of foreign investors.
