engleski

Legal uncertainty as nuisance to investment process in renewable energy

With a goal of harmonizing its legislation with the EU acquis, Croatia had to reform its own judicial system. The reform of the energy sector has began with adoption of the first package of energy legislation that the Croatian Parliament has brought in 2001. Five law Acts were adopted regulating the area of energy, gas and petroleum products. For Croatian legal system that was a novelty, since the subject matter previously was governed by many regulations of various legal areas, not laws, so in the coming years there were frequent and numerous amendments on adopted laws. All this led to legal uncertainty not only for potential, but also for current investors who had to dealt with the uncertainty of the legal system for years, in order to realise the project which they had already started. The intention of this paper is to present the complexity of the energy sector reform, which may result with legal uncertainty for project realization in renewable energy sources. On the example of Acciona Energy company, I will show a fraction of they legal path in realizing project to build one of the largest wind farms in Croatia on the Jelinak hill and to offer some conclusions.

Acciona Energy, energy packages , energy sector, reform of energy sector, wind farm

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