Poland’s government has announced an economic stimulus package it values at PLN 212 billion to assist entrepreneurs and employees during the COVID-19 crisis. The package consists of 5 pillars: employee safety, company financing, health protection, strengthening the financial system and a public investment program.
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Poland Set to Become One of the Biggest Offshore Wind Centres in Europe: 10GW of New Capacity to Be Awarded CFDs by 2028
According to one of the largest power producers and suppliers in Poland, Polska Grupa Energetyczna (PGE), Poland’s Baltic Sea has the capacity to generate 9 to 12GW of energy, ranking it second only to the North Sea, which already has about 13GW of offshore wind installed[1].
Statutory default interest rate rise in the Czech Republic
The Czech National Bank has increased the two-week repo rate from 2% to 2.25% with effect as of 7th February 2020. For commercial relationships governed by Czech law it means an increase in the statutory default interest rate from 10% to 10.25% per annum in relation to debts which will become overdue on or after
Polish Government Working on Strengthening Corporate Liability
Despite the elections being held, the Polish legislator continues to work on a new bill defining collective entities’ liability for criminal acts committed by natural persons working for such entities. The purpose of this article is to summarise the concept of the new bill.
Corporate Power Purchase Agreements – The Preferred Route for Corporates to Secure Renewable Energy Supplies in a Decarbonized World
The Changing Renewables Support Landscape Over the last couple of years, a combination of subsidy erosion or removal, lower auction prices, reduction in embedded benefits and power market volatility has led to an absence of long-term revenue certainty and forced generators and developers to explore new models for their projects. Simultaneously, corporates are increasingly targeting
Poland: What New Developments in Corporate and Commercial Law Does 2020 Hold in Store for Us? Roundup of 2019 and Peek Into 2020
2019 saw a number of changes in corporate and commercial law, which may have a bearing on Polish operations and transactions. Further developments are anticipated in 2020. The beginning of the new year is a good opportunity to round up issues essential for business.
New Whistleblower Protection in the EU – Time to Reshape The Compliance Programmes of Czech Companies
In October 2019, the Council of the European Union formally adopted a new Directive for the Protection of Whistleblowers, requiring both private and public organisations to create safe channels for reporting across a wide range of areas, including public procurement, financial services or money laundering. Member States will have two years to transpose the Directive
Poland: Offshore Wind Bill published by the Government on 15 January 2020
Part 1: Publication of the Offshore Wind Bill and Next Steps
After many months of deliberation, on 15 January 2020, the Ministry of State Assets published the long-awaited Offshore Wind Bill, the publication of which marks the beginning of the legislative process entailing a 30-day stakeholder feedback period, which is due to end on 14
A Christmas gift from the Czech Government – Will the New Czech Building Act speed up the construction permitting process and help boost residential construction?
The Czech government has published draft of the new Building Act as a major tool to speed up the construction permitting process in the Czech Republic. The Czech Ministry of Regional Development set a deadline until Christmas 2019 for any comments or objections to the prepared draft bill. The bill was prepared not long after
Poland: December 2019 RES Auction Results Announced
On December 19 and 20, 2019, the President of the Energy Regulatory Office (URE) announced the results of the renewable energy purchase auctions held between November 25 and December 13, 2019. The auctions included both existing and new renewable energy sources (RES) installations. Obviously, onshore wind farms and photovoltaics (PVs) garnered the most interest. The