“Focus on Renewable Energy” seminar recently organized by Musat & Asociatii, addressed key issues on renewable energy sector, such as State-aid schemes for clean energy projects, the status of European funds accessed in this sector, as well as practical issues regarding the controversy surrounding Law 220/2008.
“The Renewable Energy has captured investors’ interest in the recent years and has developed at an amazing pace since the enactment of Law 220/2008, which established the annual binding quotas of green certificates for 2008-2020 time frame and allowed planning the investments on a medium and long term. Unfortunately, the law is yet not fully functional as is still waiting for EU approval in respect of State-aid and it also lacks the norms required for implementation. Amending the legislation is bound to double the number of investors in the renewable sector: from my personal experience I can tell you that I have met at least with 10-15 entrepreneurs in the past months, possessing both financial resources and commercial interest to build green energy projects”, says Miruna Suciu, Partner with Musat & Asociatii and the head of the energy department.
About a year passed since the European Commission requested further information regarding Law 220/2008 and methodological norms are not yet in place. “Clarifying the aspects regarding the green certificates trading scheme, considered by some voices as a disguised form of State-aid and being investigated by the European Commission as well, is essential in order to create a competitive business environment in the energy field. The discussions that took place today bet ween the authorities and the private sector representatives show the common will of all parties involved to solve this situation”, says Anca Buta Muşat, Partner with Muşat & Asociaţii.
At the event, representatives of Romanian authorities, such as Ministry of Economy, Trade and the Business Environment or The Competition Council, shared their views alongside the biggest players in the sector and leading consultancies such as Deloitte and KPMG.
In the field of renewable energy, Muşat & Asociaţii provides legal assistance for reputed European players such as Enel, Martifer, Infusion, Global Wind Energy or Statkraft. Moreover, the firm’s long-standing energy expertise includes numerous high-profile projects such as the privatization of Electrica Muntenia Sud, the EUR 1.2 billion Termoelectrica’s debt restructuring, the development of Unit 3 and 4 of the Cernavoda Nuclear Power Plant, amounting to EUR 4 billion, the brownfield project for the refurbishment of the 800 MW power plant located in Brăila, with investments estimated at over EUR 1 billion or assisting Rompetrol Group in the mandatory public offering of Rompetrol Rafinare and Rompetrol Well Services.
Furthermore, Musat & Asociatii’s energy expertise is regularly praised by the reputed international legal guides, Chambers & Partners and Legal 500, which place the firm at the top of the rankings in this area of expertise and highly recommend our lawyers as experts on the Romanian energy market.