Energy Yearbook 2024 – Fuel for thought
Energy Yearbook 2024 – Editor’s Letter
Welcome to the first-ever Energy Yearbook from Legal 500 and Legal Business.
This supplement brings together analysis of the key issues across the energy market – with a particular focus on the topic on everyone’s lips, energy transition – as well as interviews with leading figures in the sector.
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.’
Energy perspectives: David Bone
What made you decide to become a lawyer and, once you’d made that decision, why energy?
I decided to become a lawyer in my early teens, through watching courtroom dramas on TV. As it turned out, however, I have only appeared in court once and that was sitting on the bench (another story!). Becoming a renewable energy lawyer was somewhat fortuitous. I had been doing fairly high-value commercial property work for a number of years, and a developer who had worked on early wind farms in Cornwall and Wales wanted to try and develop the first ones in Scotland. He asked his English lawyer who to use and they recommended a large Scottish law firm. After a short period, the developer decided that firm wasn’t showing enough interest in his work so turned to someone in Scotland he had done a joint venture with and asked him. I was that company’s lawyer and I was recommended. The developer made an appointment, ca+me into my office and asked (this was 1993) if I knew anything about wind farms. Being honest, I said no. He then asked if I would be interested in learning, and I said it sounded fascinating. The rest is history and 30 years on I am still learning! Continue reading “Energy perspectives: David Bone”
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
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.
Continue reading “A clean break – how law firms are helping to power the energy transition”
Energy perspectives: Clare Burgess
What made you decide to become a lawyer and why did you choose to go into infrastructure transactions?
I chose to study law with thoughts of becoming a barrister. While at university I was introduced to City law firms through the milk rounds and was drawn to the emphasis on working as a team, opportunities to work on headline deals, international secondment opportunities… and the law school grants! Continue reading “Energy perspectives: Clare Burgess”
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.
The Legal 500 view: Corridors of power
The Legal 500 energy rankings cover four core areas of the market – mining and minerals; oil and gas; power (including electricity, nuclear and renewables); and water, listing 70 firms and 150 individuals in total.
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.