Czech banks ask for clarity on changes to renewable energy

• 9 years ago (2016-06-02)

Europe 1154

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The CBA, who’s members include the country’s largest lenders, have been campaigning against proposed retroactive changes to the tax aspects of the system, which could undermine the profitability of renewable projects.

Outlined in a letter to European Competition Commissioner Margrethe Vestager, the CBA called the potential changes “worrying”.

Banks from the CBA provided between €4-5 billion ($4.5-5.5 billion) in loans to finance renewable energy projects.

Meanwhile, France and Germany have called for Brussels to develop common rules on the design of national support schemes so to preclude the need for retroactive changes.