INDUSTRY
Energy
The energy industry has been under more scrutiny than perhaps any other in the past decade. With increasing global demand for energy, coupled with the need to reduce the environmental impact of energy production, the world is indeed at a crossroads. In our region there is both a reliance on coal and nuclear power, and the beginnings of a move towards renewable energy. Alongside the continued development of traditional energy, there has been investment in geothermal, wind, hydroelectric and especially solar energy. Moving forward in these areas without disrupting economic growth requires a fine balance – one that many businesses and investors are trying to strike today.
We know that the energy sector presents both challenges and opportunities. We specialise in offering comprehensive legal advice on all matters related to alternative energy. We have worked on the financing of wind and photovoltaic power plant projects, and carried out assessments on the influence of building plans on public health and the environment. We regularly assist energy sector clients in areas such as dispute resolution, corporate transactions, financing and restructuring and insolvency. We also help businesses comply with environmental and competition regulations.
Read PRK’s contribution to the Alternative Energy & Power 2023 Chambers Global Practice Guide.
References
We represented REsolar in activities related to renewable energy and the operation of a collective scheme, including its financing with regard to WEEE.
We provided complex legal advice to a petrochemical company with respect to negotiating an EPC Contract covering the supply of a flue gas desulphurisation (FGD) absorber unit to Elektrárna Dětmarovice, a.s. (a bituminous coal power plant) for a price of approximately EUR 24.5 million.
We advised lenders such as UniCredit Bank, Česká spořitelna and Raiffeisenbank on multiple transactions regarding the financing and refinancing of solar power plants and issues relating to renewable energy in general.
We represented a leading investor in solar energy in connection with a dispute arising from a sales contract and subsequent execution and insolvency proceedings.
We negotiated a standstill agreement with banks and other creditors on behalf of an electricity trader in order to restructure and secure debt after a market disruption on the Energy Exchange.
