The Polish renewable energy sources market has recently been affected by further significant changes that follow the entry into effect on 1 July 2016 of the comprehensive amendment to the act on renewable energy sources. As a consequence of the changes introduced, the so-far applicable support mechanism in the form of green certificates was replaced by an auctioning system. The amendment to the act on renewable energy sources is to a great extent intended to meet the European guidelines on permissible state aid for renewable energy sources. The objective for the current Polish government is to promote stable sources, such as biogas plants, the construction of which is to additionally encourage local substrate manufacturers to become actively involved in developing the renewable energy sources market. A novelty here would be the so-called energy clusters and cooperatives.

Meanwhile, the opposite end of the spectrum is occupied by RES installations launched prior to 1 July 2016, where the lead is taken by industrial wind farms. These installations are to remain covered by the hitherto applicable support system with no option to sell the energy manufactured at an auction. The entry into effect on 15 July 2016 of the act on investments in wind power stations is not without significance for further growth of the Polish wind energy market. The latter act introduces, similarly as in the case of Bavaria, the so-called “10 H” rule, which sets out a restriction in respect of construction of wind power plants at a certain distance from properties designated for residential purposes.

The lack of stability on the market of certificates of origin and the increase in operational costs, in particular as regards wind farms, which result from the increase in property tax, cause operators of the currently functioning wind farms to pause and consider optimization of the schemes run by them, e.g. debt restructuring.

What will the nearest future look like for the Polish RES market? What will be the economic consequences for investors and entities financing the existing and future RES installations in Poland? What are the legal instruments available to investors to adapt their schemes to the current circumstances?

These questions will be answered by lawyers from BSJP Brockhuis Jurczak Prusak during the PfandbriefAkademie seminar to be held on 14 September 2016 in Berlin. Comprehensive information on the new legal and economic requirements and constraints relating to construction, financing and state aid for RES installations in Poland will be provided during the seminar at the customary outstanding level of competence. Addresses will be made in reference to the requirements and constraints for existing and new schemes as per the legal regulations currently in effect, including sources of income, terms of support, building law, environmental impact assessment, connection to the grid and financial close on the one hand, as well as the economic and legal terms set by financing entities, in brief: types of loan facilities, collaterals such as pledge and assignment of rights, matters relating to insurance, loan facility documentation, due diligence analysis, technical issues, event of default and its legal consequences on the other hand.

The seminar will be run in German. The fee is EUR 420.00 + VAT for participants from vdp member institutions and HypZert members, and EUR 600.00 + VAT for all other participants. For the programme, information on speakers and the online registration link, please go to:

https://www.vdppfandbriefakademie.de/de/events-app/erneuerbare-energie-anlagen-polen/detail/

Questions on organizational matters will be gladly answered by Ms Ana de Santiago, e-mail address: desantiago@pfandbriefakademie.de, tel. 030/206229-263. Should you have any queries referring to the subject matter, please contact me on 030/206229-268 and the following e-mail address: barent@pfandbriefakademie.de.
The seminar’s participants will be able to use the following hotel facilities: Hotel Aquino Tagungszentrum, Hannoversche Straße 5b, 10115 Berlin-Mitte between 13-14 September 2016 at a price of EUR 98.00 (breakfast included) - passcode “Windenergie Polen”. The offer remains open up until 2 August 2016 (info@hotel-aquino.de, tel. +49 (0)30 284 86-0).

Speakers 

Dr. Jörn Brockhuis is the partner-founder of BSJP Brockhuis Jurczak Prusak and in charge of the real estate law department. He specialises in advising on all legal matters related to real estate, construction, loan security as well as commercial leases. His clients include well-known international real estate investment funds and banks, supermarket chains and property developers. He advises on real estate sales transactions, project development, property finance as well as construction projects.

Dr. Katarzyna Domańska-Mołdawa, partner at BSJP Brockhuis Jurczak Prusak, banking and finance, real estate law as well as project implementation and loan security expert. For many years now she has provided advisory services to international real estate funds, investment companies, industrial enterprises as well as international banking consortia and financial institutions on wind farm, logistics centre, office and commercial space construction, (re)finance and acquisition.

Maciej Kuropatwiński, partner at BSJP Brockhuis Jurczak Prusak, advises international investors in Poland on investment and transaction projects in the area of energy law, real estate law and commercial companies law. He is a member of the energy law practice team and has carried out numerous due diligence surveys and provided legal advisory services for projects within the energy sector.

Dominik Sołtysiak, attorney at law and partner at BSJP Brockhuis Jurczak Prusak, energy law (renewable and conventional energy sources), M&A, administrative law and environmental protection law expert. His clients are first and foremost international developers, private investment funds and enterprises active on the regulated market. He has more than 10 years of experience in providing advisory services to Polish and international clients on all matters relating to establishing and disposal of wind, biogas and solar energy schemes in Poland.