MC magazine|Advocaten van Bird&Bird over het energierecht

magazine JA AR 6 | juli 2020 | no.119 | w w w.avdr.nl

Advocaten van Bird & Bird over het energierecht Met in deze uitgave:

Arnoud Knijnenburg, Margot Besseling, Roger van Buuren, Sophie Dingenen en RenĂŠ Rieter

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Roger van Buur Partner

Sophie Dingenen Partner

RenĂŠ Rieter Notaris

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ren Arnoud Knijnenburg Fiscalist / Partner

Margot Besseling

Associate / advocaat

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CONTENT p. 08 Sophie Dingenen p. 10 Interview Ontwikkeling in de energiemarkt p. 12 Arnoud Knijnenburg p. 14 Interview Fiscale aandachtspunten bij duurzame energieprojecten p. 16 Margot Besseling p. 18 Interview Duurzame projectontwikkeling in Nederland vanuit een corporate perspectief

MAGNA CHARTA MAGAZINE IS EEN UITGAVE VAN: Academie voor de Rechtspraktijk Jaargang 6 Citeerwijze: MagnaCM, 2020-119 REDACTIE: Etienne van Bladel Anna van Ewijk ONTWERP EN REALISATIE: Melanie Hament Eline van Roosmalen

p. 20 RenĂŠ Rieter p. 22 Interview Zakelijke rechten voor energie installaties p. 24 Roger van Buuren p. 26 Interview Kernpunten bij de financiering van projecten voor hernieuwbare energie

CONTACTGEGEVENS: Academie voor de Rechtspraktijk Interne cursuslocatie Kasteel Waardenburg G.E.H. Tutein Noltheniuslaan 7 (navigatie: nr 1), 4181 AS WAARDENBURG T: 030-220 10 70 Traditionele cursussen T: 030-303 10 70 Webinar cursussen F: 030-220 53 27 E-mail: info@avdr.nl

ADVERTENTIES:

Etienne van Bladel ISBN: 9789462286375 Behoudens door de auteurswet gestelde uitzonderingen mag niets uit deze uitgave verveelvoudigd of openbaar gemaakt zonder voorafgaande schriftelijke toestemming van de uitgever.

De video- en foto opnames in dit magazine zijn gemaakt voor de corona uitbraak.

SOPHIE DINGENEN PARTNER

I am a Corporate & Projects partner based at Bird & Bird in The Hague and Amsterdam. Heading up our Dutch energy team, I sit on the Steering Committee for our global Energy & Utilities Group and co-head our International Renewables Group.

I have extensive experience of providing strategic and board-level legal advice on all aspects of the energy market and am responsible for the development of our wind energy practice globally.

Having advised the energy sector since 1999 on corporate, project and contract matters, including during the privatisation of the Dutch energy market, my practice now mostly focuses on the structuring, development and construction of energy projects, including crossborder schemes. I have extensive experience in drafting and negotiating key project agreements - for both conventional and renewable energy projects - which are often the basis for securing project financing.

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I advise regularly on innovative structures such as Corporate PPAs which help accelerate the transition to the low carbon economy.

I was as Nominated for Euromoney’s European Women in Business Law ‘Best in Energy’ Award in 2016, 2017 and 2018 and feature on the 33rd place of the Legal Power List, which is the ‘who’s who’ of the most influential lawyers operating globally on the biggest deals in wind energy. I am the first Dutch lawyer on the list.

Before joining the team at Bird & Bird, I worked for other international law firms and in-house where I led the legal side of multi-billion Euro cross border projects. As well as speaking at conferences and writing on energy-related subjects, I am a member of professional associations including the Dutch Energy Law Association (NeVER), the International Bar Association (IBA) and the UK Society of Construction Law. I am dual qualified in the Netherlands and the UK.

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PRESS PLAY TO WATCH THE INTERVIEW

Ontwikkeling in de energiemarkt Nederland moet net als alle andere Europese landen haar klimaatdoelstellingen halen. De Nederlandse energiemarkt is in volle ontwikkeling, echter de harde realiteit is dat Nederland, als goed ontwikkeld land, onderaan het lijstje bungelt van het behalen van deze doelstellingen, zelfs onder de Europees minder ontwikkelde landen. Hoe spannen Nederland en Nederlandse bedrijven zich in om alsnog hun steentje bij te dragen aan de energietransitie.

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Sophie Dingenen

ARNOUD KNIJNENBURG FISCALIST / PARTNER

I am a partner in our Tax practice in The Hague and my in-depth knowledge and expertise in tax matters complements Bird & Bird’s key focus on innovation and energy. With more than 15 years of experience, I advise on a broad array of international tax matters with a particular focus on international structuring and restructurings, tax control and compliance matters and tax litigation, all with a focus on innovation, technology and energy matters. Over the years I have specialised in the structuring of international corporate foundations, not-for-profit organisations as well as Dutch and international charitable funds and social impact investments.

Furthermore, I regularly advise our sector clients on energy taxes, tax incentives, VAT on services and on betting and gaming taxes. For more than a decade I regularly visit South Africa on business trips to meet longstanding clients and contracts and get acquainted with new ones. My memberships The Dutch Association of Tax Advisers, the International Fiscal Association, the International Chamber of Commerce, the Southern African Netherlands Chamber of Commerce and the Dutch Association of Tax Science.

My Education Leiden University, Master’s, Tax Law/Taxation My Admissions Dutch Association of Tax Advisers in 2003.

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“I AM A PARTNER IN OUR TAX PRACTICE IN THE HAGUE AND MY IN-DEPTH KNOWLEDGE AND EXPERTISE IN TAX MATTERS COMPLEMENTS BIRD & BIRD’S KEY FOCUS ON INNOVATION AND ENERGY.”

PRESS PLAY TO WATCH THE INTERVIEW

Fiscale aandachtspunten bij duurzame energieprojecten Het interview dient ter introductie van de fiscale capaciteiten van het energie team. Als korte inleiding kijken we naar het Nederlands beleid, enkele relevante internationale ontwikkelingen, enkele fiscale stimuleringsmaatregelen en benoemen we een aantal specifieke fiscale aandachtspunten bij duurzame energieprojecten.

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MARGOT BESSELING ASSOCIATE / ADVOCAAT

As an associate in our Energy Group in The Hague and Amsterdam and a member of the international Energy & Utilities Group, I specialise in the structuring and development of (renewable) energy projects and energy related transactions. I have developed significant expertise in drafting and negotiating project agreements such as EPC, O&M and PPAs and have

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gained specific sector expertise through several inhouse secondments, one of which is at a large German/Dutch market player on the development, construction and financing of wind turbines. I am a member of the Dutch Energy Law Association (NeVER) and regularly publish articles in legal and industry magazines.

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PRESS PLAY TO WATCH THE INTERVIEW

Duurzame projectontwikkeling in Nederland vanuit een corporate perspectief Wat zijn de eerste aandachtspunten waar een projectontwikkelaar zich op moet focussen op het moment dat hij een duurzaam energieproject wil realiseren in Nederland?

Kan een projectontwikkelaar de ontwikkeling van het project verder voortzetten op basis van de optieovereenkomst of intentieovereenkomst, of is er meer nodig?

Welke vergunningen gelden als minimumvereiste?

SDE + subsidie: kan je daar wat meer over vertellen? Ik heb begrepen dat de SDE+ over enige tijd wordt vervangen door SDE++. Wat gaat er veranderen?

Resumerend: De projectontwerper heeft nu (1) de juiste landrechten gevestigd bij de notaris, (2) de juiste vergunningen verkregen en (3) SDE+ subsidie verkregen van de Rijksdienst voor Ondernemend Nederland? Wat zijn de volgende stappen?

Hoe gaat het nu verder in aanloop naar de constructiefase van het wind of zonnepark, waar dient een projectontwikkelaar wat dat betreft aan te denken?

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RENÉ RIETER NOTARIS

As a Civil Law Notary, with more than 25 years’ experience in corporate law and international structuring, I am a partner in Bird & Bird’s Corporate Group. I also lead our Notary department and am co-head of our Netherlands Real Estate Group in The Hague.

In my corporate practice, I advise on corporate matters, corporate finance and commercial transactions. This includes the structuring of partnerships and the formation of companies and other legal entities. I am also active in national and international cross-border mergers and demergers and advise on joint ventures, takeovers, strategic alliances and complex multi-jurisdictional corporate restructuring projects.

I often advise on Corporate Governance and the Large Companies Regime (‘Structuur regime’) and also have wideranging experience in setting up employee participation structures (ESOPs) and tax efficient structures for IP rights.

As part of our real estate team, I advise our clients on the

acquisition and finance of real estate and have experience in commercial real estate transactions, urban development and re-development and complex real estate structuring.

Working together with my team, I have a special focus on infrastructural real estate related to the communications and energy & utilities sectors. This includes the registration and transfer of cable networks, and special projects for solar and wind energy.

Here in the Netherlands, notarial deeds are compulsory in the transfer of shares and pledge thereof, the incorporation of companies, the alteration of their articles of association, the merger and demerger of companies and the transfer and mortgaging of real estate. Having lawyers and notaries in-house provides our clients with an integrated, multidisciplinary team for the co-ordinated delivery of services.

I was appointed as a Civil Law Notary – ‘Notaris’ - by the Crown in 1995 and joined Bird & Bird in 2008.

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“PRAGMATISCH EN DESKUNDIG�

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Zakelijke rechten voor energie installaties Bij het realiseren van groene energie projecten is het van belang om de juiste zakelijke rechten te vestigen. Zonnepanelen kunnen grondgebonden zijn, dakgebonden zijn of drijvend. Deze situaties verschillen van elkaar en vereisen ieder een eigen aanpak.

Het is ook van belang om de rechten en verplichtingen van de grondeigenaar goed in kaart te brengen. Denk daarbij aan erfdienstbaarheden en hypotheken, die van invloed kunnen zijn op de financierbaarheid van een project.

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ROGER VAN BUUREN PARTNER

I am a partner in our Finance & Financial Regulation group, with a particular focus on the Energy & Utilities sector.

I specialise in project finance (with a strong focus on renewable energy), acquisition finance and real estate finance. I combine deep sector knowledge in renewables (including offshore, onshore, solar, wind, battery storage and heat transportation), acquisition finance and real estate finance with legal skills and pragmatic advice. I advise energy firms, banks, lenders, sponsors and funds across several project finance, acquisition finance and real estate finance transactions.

Having worked in private practice for more than 15

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years as well as an in-house lawyer for a Dutch bank for a number of years, I have a good understanding of the commercial positions that need to be reconciled for financing transactions to successfully reach completion.

I use this experience to help parties achieve consensus during what can be long and complex negotiations, especially in project finance where many parties could be involved with potentially a conflict of interest.

I have in-depth experience of advising on project finance transactions utilising a broad range of new energy technologies including wind, solar PV, battery storage and heat transportation.

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“VERSCHILLENDE TEGENSTRIJDIGE BELANGEN IN EEN FINANCIERING OP EEN LIJN BRENGEN DOOR TELKENS TE ANTICIPEREN OP DE VOLGENDE STAP.”

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Kernpunten bij de financiering van projecten voor hernieuwbare energie De financiering van veel renewable energy projecten (zoals zonnepanelen of windparken) is lastige materie. Dit type financiering wordt projectfinanciering genoemd. Waarom is dit zo gecompliceerd? De investeerder en de financieriende banken hebben niet altijd hetzelfde belang. Wat zijn de key issues bij deze projectfinancieringen?

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MAGNA CHARTA NEVER FOLLOWS

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Never give up!

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