Albania won the arbitration case against Hydro SLR, with Francesco Becchetti as a shareholder, regarding the Kalivaci hydropower plant PPP.
In 2014, the Italian company had requested 137 million EUR of compensation from Albania, for asking to terminate the Kalivaci Hydropower plant PPP agreement.
The Albanian government presented a counterclaim, with the argument that Hydro SRL did not implement the agreement, causing a 158 million EUR damage. Besides this damage, Albania demands back 13 million EUR for delays.
The court decided to reject all claims of the Italian company, blaming them for not implementing the terms of the Contract.
The Arbitration is forcing Hydr SRL to pay 13 million EUR for delays and 1.2 million EUR of arbitration costs.
In a second session, the Court will decide for the indemnification that the company will have to pay to Albania.
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