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IPVIC: Solar arbitration will be filed early next year

Prague/Aachen December 19, 2012 – International photovoltaic investors in the Czech market associated in IPVIC will file for arbitration with the Czech Republic in Q1 2013, the group’s Secretary General Frank Schulte announced today. The investors will arbitrate the severe financial damage caused to them by the introduction of the legislation imposing a retroactive and discriminatory solar levy of 26% on the revenues of solar installations. The basis of the claims are specific stipulations anchored in individual bilateral treaties on protection of investments in the Czech Republic and the Energy Charter Treaty.

“In the second half of 2012, during our arbitration filing preparation, we were still hoping for an amicable solution with the Czech government,” said Frank Schulte. “However, the government has not responded to our approaches and we have noted that the government is considering further extension of discriminatory and retroactive steps against our industry despite the significant financial means committed through bona fide investments in line with Czech law,” continued Schulte.

The arbitration proceedings will be held in line with international rules of arbitration. The arbitration will be filed for early next year and an outcome can be expected in 2014.

International PhotoVoltaic Investors Club (IPVIC) is an association of international investors in photovoltaic energy. The membership consists among others from German companies Voltaic Network GmbH, ANTARIS Solar GmbH and Photovoltaik Knopf Betriebs-GmbH, German private investor Milos Schubert, Luxembourg-based company Radiance Energy Holding backed by leading Central European fund investor Mid Europa and I.C.W. Europe Investments Ltd. from the UK. IPVIC’s positions are available at www.ipvic.net.

 

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