Czech Republic faces EUR 1.7bn in claims from solar energy investors.

By bne IntelliNews June 14, 2011
The Czech Republic faces up to CZK 40bn (EUR 1.658bn) in claims from investors in solar power plants, finance ministry adviser Radek Snabl told Hospodarske Noviny. So far, the announced claims have added up to CZK 25bn. The reason for the demanded compensations is the 26% withholding tax on electricity from photovoltaic plants as of 2011 in an attempt to tame the significant growth in electricity prices. The measure also applies to energy produced by solar plants, which were put into operation in 2009 and 2010. The state expects CZK 4.2bn in additional budget revenues from this tax. The extraordinary tax will be in force only for the period 2011-2013. According to earlier data of the European PhotoVoltaic Industry Association (EPIA), the installed output of new solar plants in the Czech Republic was the third highest in the EU in 2010. The Czech Republic added 1,820MW of solar photovoltaic power (PV) installations to its grid last year and became the fourth largest EU country in terms of installed PV capacity.
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