The European Commission is reviewing whether Bulgaria is allowed under EU rules to pay compensation to ACF Renewable Energy Limited following an arbitration ruling. The dispute stems from changes Bulgaria made to its renewable electricity support scheme after ACF invested in a solar photovoltaic plant. An arbitration award ordered Bulgaria to pay €61.04 million (~$ 71.69 million) plus interest, but the payment has not been made. The Commission’s initial view is that paying the award could amount to illegal State aid and may conflict with EU law on court jurisdiction. The investigation will decide whether the compensation can be paid.

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