BBH has advised the CEZ Energy Group on its acquisition of the Skoda JS nuclear servicing and engineering company along with its subsidiary Middle Estates.

Reed Smith has advised PPC Renewables on its successful bid for the acquisition of a renewable energy assets portfolio from Piraeus Equity Partners. The KLC Law Firm reportedly advised the seller.

Greenberg Traurig has advised CVC Capital Partners on its sale of the PKP Energetyka power company to state-owned PGE Polska Grupa Energetyczna. Rymarz Zdort advised PGE.

On 13 December 2022, Law No. 357/2022 (“Law 357/2022”) on the approval of Emergency Ordinance No. 119/2022 amending Emergency Ordinance No. 27/2022 (“GEO 27/2022”) on measures applicable to final customers in the electricity and natural gas market in the period between 1 April 2022 and 31 March 2023, as well as for amending certain regulatory acts in the energy field (“GEO 119/2022”) was published in the Official Gazette of Romania no. 1198. Law 357/2022 entered into force on 16 December 2022, except for certain provisions which will enter into force at a later date. Below is a selection of some of the more relevant provisions set forth under Law 357/2022.

The European Union is fast-tracking the road to a greener future as EU institutions reach provisional agreements on the Carbon Border Adjustment Mechanism (“CBAM”) and the EU Emissions Trading System (“ETS”). After round-the-clock negotiations between EU officials, the “Fit for 55” legislative package with the ultimate goal of reaching carbon neutrality by 2050 is now being finalized. What are the implications for non-EU countries?

Although there are several incentives for renewable energy projects supported by the state, there also seem to be several factors that could impede Serbia’s potential for renewables and deter further investments in the sector. Kinstellar Belgrade Managing Partner Branislav Maric, JPM Jankovic Popovic Mitic Senior Partner Jelena Gazivoda, and Gecic Law Partner Ognjen Colic weigh which will carry a stronger impact.