Bulgaria’s Top Court Scraps Controversial Fee on Renewables
Friday, 01 August 2014
Bulgaria's Constitutional Court on Thursday revoked the 20% fee levied on the income of photovoltaic plants and wind farms that has spooked investors.
According to Bulgaria's State Commission for Energy and Water Regulation (DKEVR), the new fee has generated receipts of 36 million levs by the end of March.
The Bulgarian Photovoltaic Association (BPVA) welcomed the court’s decision. Its Chair Meglena Rusenova said the ruling restores the rule of law and will stabilize Bulgaria’s energy sector.
”The Constitutional Court sends a strong signal from Bulgaria to all foreign investors that Bulgaria already is a stable destination for their investments and the Constitutional Court safeguards the stability of the investment environment in the country,” Rusenova said.
The Constitutional Court’s decisions have no retroactive force and the sums collected so far will not be restored to the solar and wind energy producers.