International PhotoVoltaic Investors Club (IPVIC) is an association of international and domestic investors in photovoltaic energy active also on the Czech market. Among the member companies are the German companies Voltaic Network GmbH and Antaris Solar GmbH, as well as the Luxembourg-based Radiance Energy Holding.
These investors have invested significant resources in the development of the photovoltaic sector in the Czech Republic. Their solar projects have the combined installed capacity of 80 MWp. That means, among other things, saving 94,000 tons of CO2 per year.
Since 2011 the companies associated in IPVIC have been in discussions with the Czech government about the dramatic changes introduced to the legal and regulatory framework for the support for the solar sector in late 2010.
These changes included, among other things, an amendment to the Act on Promotion of Electricity Production from Renewable Sources, adopted on 14 December 2010 and effective as of 28 December 2010 / 1 January 2011, introducing a new levy on electricity generated from solar power plants put into operation in 2009 and 2010. The levy is imposed in the amount of 26% of the feed-in tariff (or, as the case may be, 28% of the Green Bonus), beginning on 1 January 2011.
The companies associated in IPVIC sent letters to the Czech government, in 2011, informing it that their investments had been adversely affected by this series of regulatory changes. The letters invited the government to talks but also stated that the investors were ready to defend their rights through international arbitration proceedings.
Despite long-term efforts of IPVIC, the Czech Government had failed to offer constructive proposals for an amicable solution. Thus, in 2012, IPVIC announced it had started with arbitration filing preparations. In May 2013, the international investors associated in IPVIC filed a notice of arbitration against the Czech Republic.
IPVIC has appointed the law firm Bonelli Erede Pappalardo to represent them in the legal aspects of their discussions with the Czech state. Donath Business & Media (DBM) is the association’s public relations representative and the publisher of this website.