Joint letter from the Renewable Energy Industry on investment protection

Dear Commissioners,
The European renewable energy industry represented by the undersigned organisations strongly supports the European Commission’s objective of ensuring a succes sful economic recovery driven by private investments.

In the global competition for quality investments, one of the European Union’s key competitive advantages is the rule of law principle underpinning investor protection.
However, as we have highlighted during two recent seminars organised by the DG FISMA services , this principle has dramatically failed renewable energy investors.

The industry understands that renewable energy support mechanisms need to be adjusted over time to reflect declining technology costs, but retroactive changes are a misguided approach to this end. Over the past years, several Member States have enforced abrupt regulatory changes undermining the economic viability of exi sting projects. Moreover, certain Member States, having failed to properly verify the compliance of their support mechanisms with European State Aid rules, have used the resulting uncertainty as leverage in dealing with their own national industry.

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