Basic info in English

Solar shining on the web, otherwise overcast

Prague May 31, 2011 – International PhotoVoltaic Investors Club (IPVIC), which brings together international and domestic investors in the area of solar energy production in the Czech Republic, launched its website at today. It contains interesting information about photovoltaic in the Czech Republic and in the world, and offers a comprehensive review of critical retroactive legislative changes.

“There are no solar barons as legitimate investors into Czech solar energy business are often depicted,” said Frank Schulte, General Secretary of the IPVIC and CEO of Voltaic Network. “It is also the aim of the newly launched ‘rananasolar’ website to educate and explain the current state of affairs. Blaming the energy price hikes on renewable sources of energy only is shortsighted and simply wrong. We truly believe that renewable energies are the future,” Mr. Schulte explained.

Several international IPVIC members sent their trigger letters to Czech government authorities announcing the existence of a dispute regarding damages, which arose from last year’s sudden legislative changes. That is, according to international law, the first step towards the solution of the dispute.

International PhotoVoltaic Investors Club (IPVIC) is an association of international and domestic investors in photovoltaic energy. The membership consists among others from Czech–based Ren Power, German private investor Milos Schubert, German Voltaic Network GmbH and Photovoltaik Knopf Betriebs-GmbH, Luxembourg-based company Radiance Energy Holding and Antaris Solar from Switzerland to I.C.W. Europe Investments Ltd. from the UK. By the end of May 2011, the number of members of the association has reached 20 companies. The installed capacity of their solar projects is 140 MWp.

IPVIC has appointed the law firms Freshfields Bruckhaus Deringer LLP and Glatzova & Co. to represent them in the legal aspects of their discussions with the Czech state regarding the recent dramatic retroactive changes to the legal and regulatory framework for the solar sector. Donath Business & Media (DBM) is the association’s media representative.


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