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Insights December 2022

Compensations for energy prices in Slovakia

On 1 December 2022, the Ministry of Economy of the Slovak Republic (“the Ministry”) published a call for the submission of applications for the provision of a subsidy to cover additional costs due to the increase in gas and electricity prices (“the Call”). The aim of the Call is to compensate qualifying companies and natural persons (entrepreneurs) for excessive energy prices in August and September 2022. In this article, we present an overview of the related key information. 1     Basis The Call was published in accordance with the state aid scheme approved by the European Commission under No. SA. 104846 under the State aid Temporary Crisis Framework (“the Scheme”). The Ministry

Deals November 2022

Žurić i Partneri (ŽiP) Kinstellar assists the European Commission Directorate General for Energy (DG ENER) in the transposition process of Directive 2018/2001

ŽiP Kinstellar — together with Grimaldi Studio Legale as the lead law firm and the Grimaldi Alliance network of highly skilled national experts from law firms Collegium Bitai & Partners, Dimitrov, Petrov & Co., Drakopoulos, Kirm Perpar, Wardynski & Partners and Vojčík & Partners, s.r.o. — is assisting the European Commission Directorate General for Energy (DG ENER) in reviewing the transposition status and conformity of the RED II Directive into Member States’ legal systems. In particular, ŽiP Kinstellar is verifying the transposition and conformity of the RED II Directive into Croatia’s legal framework. RED II is part of the EU's ambitious 2030 climate plan, which includes renewable

Deals August 2022

Kinstellar and Gen Temizer Özer advise Torunlar Group on the acquisition of a 50% stake in AKCEZ—a joint venture between ČEZ Group and Akkök Group in Turkey

Kinstellar and Gen Temizer Özer are delighted to have supported Başkent Doğalgaz Dağıtım Gayrimenkul Yatırım Ortaklığı A.Ş., the second-largest gas distributor in Turkey and publicly listed on the Istanbul stock exchange, and Torunlar Enerji Sanayi ve Ticaret A.Ş., a Turkish investment holding company and the majority owner of Başkentgaz, on the acquisition of a 50% stake in AKCEZ Enerji A.Ş. (AKCEZ) from ČEZ Group, which following final closure of the deal will exit its existing joint venture with Akkök Group. The transaction is subject to, inter alia, approval by the Turkish antitrust authority and local energy regulator. AKCEZ—a joint venture of ČEZ Group and the Akkök Group—owns the

Insights July 2022

Kinstellar contributes to the Clean Energy Tool launched by Simmons & Simmons

Kinstellar is honoured and delighted to have contributed, as exclusive authors, to the Czech, Hungarian and Kazakhstan sections of the Clean Energy Tool launched by international law firm Simmons & Simmons. The Clean Energy Tool provides reliable, consistent and easy-to-manage information to support investments in clean energy projects around the world. It gives investors online access to important legal and regulatory information concerning renewable energy projects. The tool is constantly expanding and already covers 44 jurisdictions. Information is developed in collaboration with premiere local counsel selected by Simmons & Simmons from across Africa, Asia, Europe, Latin America, Australia and the Middle East.

Insights May 2022

Long term renewable power purchase agreements with renewable energy generators

The sale of the generated electricity by renewable energy generators through market-based long-term power purchase agreements (PPAs) is a fairly new phenomenon in the Hungarian electricity market. Whilst PPAs have already been concluded between conventional power plants and off-takers in the past, the interest towards renewable PPAs has only started to increase recently, primarily for the following reasons: Firstly, over the last few years the economics of renewable energy generation has substantially improved, and renewable energy generation has become more and more competitive with conventional forms of power generation. Secondly, the governments started to gradually phase out many of the formerly existing “old school”

Deals March 2022

Kinstellar advises MVM Group on the acquisition of a direct stake in two leading energy utility construction companies in Serbia

Kinstellar is proud to have advised MVM Group, one of the leading regional energy groups, on entering into a share purchase agreement with the Serbian Maneks Group in connection with the acquisition of a 33.4% stake in Energotehnika Južna Bačka and Elektromontaža Kraljevo, two leading Serbian utility construction companies. The acquisition enhances MVM Group’s ability to increase its presence in Serbia and in the western Balkan region, in line with its regional expansion strategy. The transaction is expected to close in the second quarter of 2022. The Kinstellar team was led by Branislav Marić, Managing Partner of our Belgrade office, with the support of Andreja Vražalić and Nikola Stojiljković (Managing

Insights March 2022

Romanian energy regulator adopts rules for setting fines applied as a percentage of turnover

Further to the transposition into Romanian law of the Internal Market in Electricity Directive (EU) 2019/944 in December 2021 (that we previously wrote about here), the Romanian Energy Regulatory Authority (“ANRE”) has recently adopted Order no. 12/2022 for the approval of the procedure on the method of setting administrative sanctions as a percentage of turnover following control activities (“Order no. 12/2022”) and Order no. 13/2022 for the approval of the procedure on the method of setting administrative sanctions as a percentage of turnover following investigation activities (“Order no. 13/2022”) (together the “Orders”). The Orders should provide more predictability to energy market participants as to

Insights March 2022

The REPowerEU Plan: European Commission’s Communication for a Joint European Action for more affordable, secure and sustainable energy and what it means for Romania

The European Commission published, on 8 March 2022, its REPowerEU Communication addressed to the European Parliament, the European Council, the Council, the European Economic and Social Committee and the Committee of the Regions on Joint European Action for more affordable, secure and sustainable energy (the “Communication”). Context and aim of the Communication The Communication outlines the need for a REPowerEU plan meant to address the EU’s need for energy independence, given the current geo-political context. The Commission declares itself ready to implement the plan by this summer, in cooperation with the Member States. Against this background, the Communication highlights the upmost importance

Insights March 2022

Accessing talent in Bulgaria through Employer of Record service providers

Two years after COVID-19 was officially reported in Bulgaria, the local labour market appears to be steadily returning to its pre-COVID-19 tempo of growth, with market researchers reporting personnel shortages, particularly in the technology and IT sector. The pandemic has reshaped the way we work, and companies are now embracing remote work as an opportunity to access talent across borders. This process has naturally resulted in the increased engagement of Employer of Record service providers (“EORs”), which facilitate the process of hiring and administrating employees abroad. This overview provides insights into how EORs may operate under Bulgarian law and also highlights important aspects to be considered by companies

Insights January 2022

Good news for renewable energy producers following amendments to the Romanian Energy Law

On 31 December 2021, Government Emergency Ordinance no. 143/2021 amending the Romanian Energy Law no. 123/2012 (the “Energy Law”) and other normative acts was published in the Official Gazette (“GEO no. 143/2021”) and entered into force. GEO no. 143/2021 represents a significant redrafting of some of the principles and provisions of the Energy Law and was mainly intended to transpose under local law Directive (EU) 2019/944 on common rules for the internal market for electricity and amending Directive 20212/27/EU (“Directive 2019/944”), which should have been transposed by 31 December 2020. Among the most anticipated changes to the Energy Law is the repeal of the restrictions for electricity producers to conclude

News October 2021

Kinstellar strengthens its team in Uzbekistan with the appointment of Sherzod Yunusov as Partner

Kinstellar is delighted to announce that Sherzod Yunusov has joined the firm’s Tashkent office as Partner. His joining the firm bolsters our team’s capabilities in Uzbekistan and particularly our expertise in the energy and infrastructure sectors and project finance. Sherzod Yunusov has expertise and an established track record handling a wide array of matters related to oil and gas transactions (including exploration and gas production; production sharing agreements; development of fields; design and construction of infrastructure projects; gas transportation and processing; plant operation; sales of gas; and project finance), renewables (solar and wind), and infrastructure projects. He also advises on restructurings

News September 2021

Kinstellar strengthens its Energy and Natural Resources team in Kazakhstan with appointment of Anna Kornilova as a Senior Associate

Kinstellar is delighted to announce that Anna Kornilova has joined our team in Kazakhstan as a Senior Associate.  At Kinstellar, Anna’s practice will focus on Competition and Antitrust Matters. In addition, Anna will be involved in our Energy and Natural Resources team and our Corporate and M&A practices. Anna graduated with LL.B. from the Almaty Academy of Law of the Kazakh Humanitarian Law University, international law faculty in 2007 and completed one year of studies in Washington, DC in 2002. She is a member of the Kazakhstan Bar Association, the Kazakhstan Alliance of Antitrust Experts and Eurasian Association of Antimonopoly Experts. Prior to joining Kinstellar, Anna Kornilova was a Senior Associate