In this specific context I believe "identificar" is used in the sense of "being identical to", one of the less common meanings of "identificar" provided in the Diccionario de la Real Academia Española:

3. Identificar-Ser una misma cosas que pueden parecer o considerarse diferentes.

I base this option on the fact that the text states that the judgment referred to previously interprets (i.e., defines) the real and effective cost of the construction/works ("el coste real y efectivo de las obras") as the construction costs ("el coste de ejecución").

Thus, if this fits context, your text might be translated as follows:

"...el coste real y efectivo de las obras que, como se desprende de la jurisprudencia ya señalada, se identifica con el coste de ejecución"

"...as the aforementioned caselaw implies, the real and effective cost of the works may be defined as (or) is tantamout to (or) may be equated with the (actual) contruction costs."