MADRID — The Spanish government has won a significant victory in a long-running legal dispute with international investors over its decision more than a decade ago to scrap renewable energy subsidies. This week, a Belgian court overturned a ruling that ordered the Spanish government to pay investors nearly €76 million. It was a major win for Spain, which has been fighting attempts to freeze its assets around the world from clean energy investors who claim they are owed at least €2 billion in subsidies. The dispute dates back to 2013, in the middle of the European debt crisis, when cash-strapped Spain, then under a new conservative government, decided to remove subsidies for renewable energy.
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