Sterling and Wilson Renewable Energy Limited has provided an update on its ongoing material litigation. The Arbitral Tribunal under the International Chamber of Commerce (ICC) has extended the suspension of arbitration proceedings between the company (as part of a consortium) and TSGF SPA until March 31, 2027, upon joint application. A conditional settlement agreement with the same long stop date has been executed, and costs, fees, and expenses of the arbitration will not accrue during this period. No immediate impact on the company’s financial position is noted.
Litigation Update: Arbitration Suspension Extended
Sterling and Wilson Renewable Energy Limited has announced an update regarding its ongoing material litigation. The company, as part of a consortium of applicants including Sterling and Wilson Renewable Energy Limited – Agencia En Chile and Shapoorji Pallonji and Company Private Limited (“SPCPL”), has seen the suspension of arbitration proceedings extended.
The arbitration is with TSGF SPA, referred to as the “Client.” The Arbitral Tribunal under the International Chamber of Commerce (“ICC”), located in Chile, issued an order on November 11, 2026, extending the suspension of these proceedings until March 31, 2027. This extension was granted upon a joint application submitted by both the contractor consortium and the Client.
Conditional Settlement Agreement
In conjunction with the extended suspension, a conditional settlement agreement has been executed between the contractor and the Client, with a long stop date of March 31, 2027. Importantly, the costs, fees, and expenses associated with the arbitration proceedings will not accrue during this extended suspension period. As of the announcement date, there is no anticipated impact on the company’s financial position until the implementation of this settlement agreement on or before the aforementioned long stop date.
Source: BSE
