The energy and renewables debate: Power shifts

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The energy and renewables debate: Power shifts

Eric Knai, Eversheds Sutherland: If you look back at 2023, we have had a very depressed M&A market other than in the energy sector. If you think about the two geopolitical events that have dominated 2023, the Ukraine war and the conflict in the Middle East towards the end of the year, those are both conflicts which are in oil and gas regions and which have impacted not only production but also supply chain.

Why does that impact M&A, transactional work and projects in general? It has driven up interest rates as a result of the inflation that those crises have created. But my view is that the issues with the M&A market in 2023 do not have much to do with the level of interest rates. Most of us around this table are old enough to remember doing deals at 6%, 7%, 8% or 9%.

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On the horns of a trilemma

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On the horns of a trilemma

For close to two years now, energy sector commentators have spoken of a ‘trilemma’: a struggle to balance the three competing imperatives of energy transition, security, and affordability. Of these three, energy transition arguably looms largest. For John Dewar, project, energy and infrastructure finance partner at Milbank and Legal 500 Hall of Famer for power: ‘The push to the energy transition has been the most disruptive change in the energy market in decades.’

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Sponsored thought leadership: Bulgaria expects record energy investments in 2024-25

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Sponsored thought leadership: Bulgaria expects record energy investments in 2024-25

In 2023 Bulgaria adopted key legislation amendments that are expected to lead to a boom in green energy investments in the following years. The measures are taken in response to the decline of renewable energy sources’ share in the country’s end consumption for the last two years. The 2022 share of renewable energy sources in the end consumption of electricity in Bulgaria was 19.1% remaining far from the 2030 goal of 27%. Continue reading “Sponsored thought leadership: Bulgaria expects record energy investments in 2024-25”

A clean break – how law firms are helping to power the energy transition

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A clean break – how law firms are helping to power the energy transition

Since 2021, the Legal 500 Green Guide has been highlighting the law firms making significant contributions to the green transition around the world, be it through client work, external engagements, internal initiatives, or all of the above.

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Sponsored Q&A: Oppenheim

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Sponsored Q&A: Oppenheim

1. How does the Hungarian regulatory framework govern renewable energy projects, and what are the latest amendments or proposals that could impact such projects?

Renewable energy projects are not regulated separately, the respective rules are embedded in the regulation of the given sector. For example, solar and wind projects have their rules within the frame of the electricity regulation, geothermal investors can look up the relevant provisions in the mining law. Note that investors will face turbulent legislative changes in the Hungarian energy sector, especially in respect of renewables. Therefore, renewable investors should pay meticulous attention to the actual legislative framework when considering an investment in Hungary.

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Sponsored Q&A: Osborne Clarke

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Sponsored Q&A: Osborne Clarke

1. Can you describe the current legal framework governing renewable energy in Germany and any significant regulatory developments that have occurred in the last year?

In a nutshell, the legal framework for renewable energy in Germany consists of a priority grid connection claim and support via the Erneuerbare-Energien-Gesetz (EEG) feed-in tariff for smaller installations and the market premium for larger installations. The market premium is paid by the grid operator and compensates for the difference between a bid awarded in a tender and the market prices.

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Stepping on the gas – the factors behind the rise of green hydrogen

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Stepping on the gas – the factors behind the rise of green hydrogen

At COP28 last year, all parties acknowledged that renewable and low-carbon hydrogen will be an essential factor in meeting global energy needs while decarbonising industry. With law firms advising clients on green hydrogen projects which seek to replace conventional fuels within heavy transport, thermal power stations, domestic heat grids, and industrial activity, hydrogen has the potential to make a vital contribution toward decarbonising hard-to electrify processes.

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Sponsored Q&A: Pellerano Nadal

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Sponsored Q&A: Pellerano Nadal

1. What are the primary laws and regulations governing the energy sector in the Dominican Republic?

The General Electricity Law No. 125-01, dated 26 July 2001, as amended (the Electricity Law), regulates all stages of production, transmission, distribution and commercialisation of electricity, as well as the functions of the competent government agencies that oversee the energy sector. These agencies are essentially the National Energy Commission (CNE), responsible for national energy policy development and the Superintendence of Electricity (SIE), as the regulatory/supervisory body. In 2007, the Renewable Energy Incentives Law No. 57-07 (Law 57-07) was enacted to provide a number of incentives to businesses developing renewable energy technologies. Continue reading “Sponsored Q&A: Pellerano Nadal”

Sponsored Q&A: Kesikli Law Firm

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Sponsored Q&A: Kesikli Law Firm

1. Can you describe your journey into specialising as an energy lawyer in Turkey? What attracted you to the energy sector, and how have your interests and career evolved in response to Turkey’s energy landscape?

My specialisation as an energy lawyer in Turkey began while working as an in-house counsel for companies involved in energy project development and investment activities within the sector. This role immersed me in the complexities of the Turkish energy landscape and the realities of investing in energy businesses across different jurisdictions. This coincided with a burgeoning market in Turkey, providing me with a unique opportunity to witness and contribute to the sector’s rapid evolution, navigating through the nascent and evolving energy market laws of Turkey.

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