Mexico City, February 15. Mexico must pay 21.1 million euros to the Spanish companies Duro Felguera and Elecnor. The International Court of Arbitration in London issued the ruling after a litigation that the country lost against the European companies.
The conflict began in 2015, when the Federal Electricity Commission (CFE) breached a contract for the construction of a combined cycle plant. As a result, both companies sued the Mexican state for economic damages.
The legal conflict and the ruling against Mexico
In 2015, Duro Felguera and Elecnor signed a contract with CFE to build a thermoelectric plant in the north of the country. However, the project faced payment delays, contract changes, and ultimately, the cancellation of the project.
In this situation, the Spanish companies took the case to international arbitration, denouncing contractual breach and economic impacts.
In 2024, the International Court of Arbitration in London ruled in their favor. As a result, the Mexican government was ordered to pay a multimillion-dollar compensation.
