CEE Legal Matters
In-depth coverage of the news and newsmakers that shape Europe's emerging markets
As of 13 January 2024, a new government decree amends the provisions of the clearance procedure of the Government Decree on certain foreign direct investments (“FDI”). The amendment grants the Hungarian State a right of first refusal in respect of acquisitions of strategic companies whose main or additional registered activity is electricity production and pursue solar power plant-related activity that are to be acquired by foreign investors.
On 8 January 2024, the Ministry of Energy of Ukraine issued the order "On Measures to Reduce Mutual Debts on the Electricity Market" (the "Order"), which sets out the methods for dealing with the situations where market participants have unpaid bills to each other. The purpose of the Order is to stabilize the operation of the electricity market and reduce debts in its specific segments.
Dentons has advised P Capital Partners on a euro-denominated senior debt package to project companies controlled by Susi Partners, acting on behalf of the Susi Energy Transition Fund, for a 167-megawatt portfolio of photovoltaic and wind power projects in Poland. Norton Rose Fulbright advised Susi.
Former Attorney at Law Jacek Blachut and former Counsels Jacek Budzik and Bartlomiej Jarco have been promoted to Partner positions with SPCG in Krakow.
DLA Piper has advised OX2 on the construction of the Juniewicze, Grajewo, and Sulmierzyce wind farms with a total capacity of over 100 megawatts.
In a significant development, a provisional agreement between the Council presidency and the European Parliament has set the stage for a proposed EU law targeting businesses involved in waste generation, operation, or disposal. The agreement, which took place late last year, reflects a commitment to stricter penalties for environmental crimes, doubling the number of offences from the soon-to-be-replaced Directive 2008/99/EC.
The Ministry of Economy has extended the eligible period for electricity and gas price compensations. In addition to 2023, it will also be possible to apply for compensation for the period up to 30 June 2024. Applications can be submitted until 15 June 2024.
