Grenada government rejects ‘no choice’ arbitration claim
Following a request for arbitration filed earlier this month with the World Bank’s International Centre for Settlement of Investment Disputes (ICSID) by Grenada Private Power Limited (GPP), a 50 percent shareholder of Grenada Electricity Services Ltd (Grenlec), along with GPP’s parent company WRB Enterprises Inc. (WRB), the Grenada government said is not correct that GPP/WRB had “no choice” but to seek arbitration of this matter.
The purpose of the arbitration is to enforce the government of Grenada’s contractual obligation to repurchase the 50 percent Grenlec shareholding that the government previously sold to GPP.