Calgary-based WalAm Energy has lost its legal challenge at the International Centre for Settlement of Investment Disputes (ICSID) against Kenya’s decision to prematurely terminate its licence for the Suswa geothermal field. “Kenya has prevailed in an ICSID international arbitration whose award was issued Friday evening. Kenya prevailed in an over $400m claim over Suswa geothermal fields and will recover costs of at least Sh500m” ($4.8m), attorney-general Kihara Kariuki said following the 10 July ruling.
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