CEE Legal Matters
In-depth coverage of the news and newsmakers that shape Europe's emerging markets
The new Decree on Conditions for the Delivery and Supply of Electrical Energy in Serbia enters into force today, 13 October 2023. Long-awaited regulation sends the signal that the connection procedure for new projects that has been basically on hold for more than two and a half years will be deblocked soon.
Noerr has advised Romanian corrugated cardboard and tissue paper company Vrancart on the National Recovery and Resilience Plan financing for its construction of a 20-megawatt photovoltaic park.
Sayenko Kharenko has advised an ad-hoc group of noteholders in connection with the consent solicitation launched by Naftogaz to amend and extend its USD 335 million in 7.375% notes due 2022.
The adoption of the Law on the Use of Renewable Energy Sources in 2021 created a very favorable environment for investments in green energy. Recognizing the opportunities and incentives, investors in a short period of time submitted a large number of requests to Elektromreža Srbije as a transmission system operator ("TSO") for the connection of future power plants using renewable energy sources. More precisely, requests for the connection of 22,000 MW have been submitted so far, while the total capacity of the power plants connected to the system is about 8,500 MW.
CMS has successfully represented Slovakian renewable energy investors Alpha Solar Group and Alpha Solar Invest in a case against the Bulgarian state regarding the recovery of cut feed-in tariffs for operational photovoltaic plants in Bulgaria.
Musat & Asociatii has advised Naxxar Renewable Energy on the sale of a 60% stake in the 685.6-megawatt Naxxar Wind Farm Four in Tulcea County to Polenergia, with an option for the remaining 40%.
B2RLaw has advised Danish wind turbine manufacturer Vestas on its acquisition of the ST3 Offshore factory in Szczecin – which had gone bankrupt in 2020 – during the sixth tender for its sale.
