In Guinea, the State will have to pay $ 47.5 million to K-Energie according to the judgment rendered by the ECOWAS court of justice. He was, in fact, found guilty of violations of property rights for having deprived K-Energie of the enjoyment of its assets.
The ECOWAS court of justice has just condemned Guinea to pay $ 47.5 million to the energy company K-Energie. In the judgment delivered, the body found the Guinean State guilty of violating K-Energie’s property rights by depriving the company of the use of its assets.
She also ordered the return of all of the company’s assets, which had been seized by the government. These include offices and service housing, mobile electric turbines and related facilities, including transformers.
K-Energie had seized the regional jurisdiction in 2018. It accused the government of Guinea of having dispossessed it of its infrastructure and of having transferred it to another private entity. She had claimed $ 500 million in compensation for the damage caused.
K-Energie supplied 50 MW of electricity to Guinea for several months. When the company went bankrupt, the Guinean state obtained the transfer of its equipment worth $ 150 million to another entity, the Guinean Electricity Company (GDE) to continue to enjoy this energy.
Source: Agence Ecofin