Czech Republic set to lose solar arbitration: report

Business daily E15 says that the Czech Republic appears to have lost at least one of the outstanding arbitration procedures launched by investors in solar power plants.

The paper says that a so far report to the Ministry of Finance suggests that in one of the six outstanding arbitration cases the investor has the rights to compensation.

It adds that the bill from this and other possible findings in favour of the claimants could come to billions of crowns. The arbitration procedures were launched after the Czech government imposed special taxes on solar investors in 2011 to claw back some of the payments made to them under a much criticised programme to boost renewable power.