The independent and international business law firm of Warsaw SCANDINAVIAN INVESTMENTS IN RENEWABLE ENERGY Gdańsk, March 26, 2012

The independent and international business law firm of Warsaw 2 History & profile of PNP  Pioneer company – the second foreign law firm registered in Poland – established in October 1990  Independent, medium sized, with international clients and staff  Special expertise in serving Scandinavian clients on the Polish market.

The independent and international business law firm of Warsaw 3 Core-competences Commercial Law & Contracts Energy and Enviromental Law Tax Law Payroll & Book-keeping Labour Law / HR Litigation and Dispute Resolution Real Estate / Construction Law Insolvency & Debt Collection

The independent and international business law firm of Warsaw 4 Our Scandinavian – Polish know-how: Legal aspects Business aspects Cultural aspects Is there a clear division between the areas ?

The independent and international business law firm of Warsaw 5 Renewable energy sector renewable energy as an important electricity source ecological substitute for fossil fuels EU legal regulations – mandatory target: 20% of the share in energy from renewable sources

The independent and international business law firm of Warsaw 6 The growth markets cumulative installed capacity per EU Member State (MW) source: EWEA

The independent and international business law firm of Warsaw 7 Wind park investements opportunities and … green certificate system improvement in the number of local development plans co-funding by EU or national programmes, huge wind project profitability

The independent and international business law firm of Warsaw 8 … and problems changes in the legal regulations applicabe to wind energy – legal instability, connecting renewble energy sources to the grid, lenghtiness of administrative procedures, social protests

The independent and international business law firm of Warsaw 9 Case study: end-to-end project Danish investment in a medium sized wind farm (<10MW) 4 co-owners from Jutland, Vestas V90 2 MW

The independent and international business law firm of Warsaw 10 Development of the project Land lease – long-term lease agreement (25 years, registered in the mortgage and land register) + transmission / road easments grid connection (medium voltage grid) given by the transmission system operator (Energa- Operator S.A.)

The independent and international business law firm of Warsaw 11 Development of the project zonic decision (in case of the lack of the local land development plan) environmental assessment and environmental permit

The independent and international business law firm of Warsaw 12 Development of the project wind assessment (12 months) construction permit closing of the investment (finding construction companies, contract with VESTAS) financing (bank credit)

The independent and international business law firm of Warsaw 13 Development of the project construction power purchase agreement, sale of certificates obtaining license (only an entity with a license is granted certificates)

The independent and international business law firm of Warsaw 14 Other data Turbine: Vestas V MW Hub height: 105 m, rotor diameter: 90 m Production since : approx. 2,000,000 kWh per each wind turbine

The independent and international business law firm of Warsaw 15 Difference between renewable sectors in Poland and Denmark improving  know-howbig lack !!lmoneybig hugeopportunitiessmaller

The independent and international business law firm of Warsaw 16 Thank you for your attention Paweł Nowak