Battery Energy Storage Systems in the Greek Electricity Market
October 2024
Gus Papamichalopoulos, Senior Partner, Konstantinos Varelas, Senior Associate, and Iakovos Kouloris, Senior Associate
Kyriakides Georgopoulos Law Firm
In view of the increasing interest by national and international stakeholders in the developing market of the Battery Energy Storage Systems (hereinafter “BESS”) in Greece, KG Law Firm’s Energy practice breaks down the major elements related to the compensation of BESS projects.
Q: Is the BESS market developed in Greece?
A: In view of the state of the Greek energy landscape (grid congestion, high penetration of PVs), during…
New Regulations Impacting the Crypto Asset Sector
October 2024
Irem Cansu Demircioglu, Senior Associate, and Yagmur Gundogdu, Trainee Associate
Kolcuoglu Demirkan Kocali Attorney at Law
Law No 7518 on Amendment of Capital Markets Law (the “Law”) has been published on 2 July 2024, and has entered into force on the same date. Upon its enactment, the Law established the procedures and principles applicable to entities in the crypto-asset sector and the services provided by such entities. In this respect, the new regulations introduced by the Law and the principles published by the Capital Markets Board (CMB) following the entry into force…
Turkish Merger Control Regime in Technology Markets: Defining the Limits
September 2024
Neyzar Unubol, Competition Law Counsel, and Esen Cakir, Associate
Kolcuoglu Demirkan Kocakli Attorneys at Law
Recently, several competition authorities worldwide have increased merger control scrutiny in technology markets. The European Commission encourages national competition authorities to refer to transactions falling below the European Union and national turnover thresholds. The Digital Markets Act, which entered into force in November 2022, obliges large digital platforms (i.e., gatekeepers) to notify the European Commission of mergers or acquisitions regardless of turnover…
The New Framework for Net Billing in Greece
September 2024
Gus J. Papamichalopoulos, Senior Partner, Antonis Koumpias, Senior Associate, and Melina Kolovetsiou, Associate
Kyriakides Georgopoulos Law Firm
Introduction
The installed capacity of Renewable Energy Sources (hereinafter, "RES"), especially from rooftop solar photovoltaic projects (hereinafter, "PVs"), has seen a rapid increase in recent years, driven by a significant drop in the cost of solar power technology. In addition, electricity price volatility has driven prices on the Day-Ahead Market to peak at up to €900/MWh, also impacting retail prices. This volatility, driven…
Significant Amendments to the Organised Industrial Zones Regulation
September 2024
Our Turkish member firm, Kolcuoğlu Demirkan Koçaklı, has recently issued a client alert titled "Significant Amendments to the Organised Industrial Zones Regulation".
To access the document, please use the following link.
The Court of Justice in Illumina/Grail: Back to Legal Certainty and Institutional Predictability in Merger Review
September 2024
Ioanna Palyvou, Partner, and Konstantinos Sidiropoulos, Senior Associate
Kyriakides Georgopoulos Law Firm
On 3 September 2024, the EU’s highest court issued its eagerly awaited ruling on the Illumina/Grail case (C-611 & 625/22P).
The Court of Justice overturned the General Court’s ("GC") judgment – which had confirmed the European Commission’s ("EC") competence to accept a referral request from some of the EU member states and examine the Illumina/Grail merger – and annulled the EC’s decisions by which it accepted the abovementioned requests.
Specifically, the…
Understanding the EU's Artificial Intelligence Act: Key Insights
August 2024
Anisa Tomic, Partner, and Zerina Karahmet, Associate
Maric & Co Law Firm
On August 1, 2024, the European Union's Artificial Intelligence Act (AI Act) came into force, marking a significant milestone in the regulation of AI technologies. This pioneering regulatory framework is designed to ensure the safe and ethical deployment of AI across the EU, balancing innovation with fundamental rights and safety. At Marić & Co. d.o.o., we recognize the importance of understanding and complying with these regulations as AI continues to revolutionize the way we live and work, from personalized…
Software and IP Protection – Key Considerations
August 2024
Irene Kyriakides, Partner, Niovi Plemmenou, Associate, Apostolos Papachrysos, Associate, and Androniki Papoutsoglou, Junior Associate
Kyriakides Georgopoulos Law Firm
Introduction
In an increasingly technology-oriented society, software has become an invaluable asset for businesses. Companies either develop or simply use software in their day-to-day operations and a familiarity with laws revolving around software and its protection is crucial. Navigating the complex landscape of intellectual property (IP) rights is essential for safeguarding the interests of innovative companies.…
Amendments to the Personal Data Protection Law
July 2024
Marat Minasyan, Partner, and Bahar Esenturk, Associate
Kolcuoglu Demirkan Kocakli Attorneys at Law
The Turkish Personal Data Protection Law ("PDPL") was amended by the Amendment Law on the Code of Criminal Procedure and Certain Laws ("Amendment Law"), published in March 2024. The Amendment Law changes the rules regarding cross-border data transfers, the processing of sensitive personal data, and the appeal process against the decisions of the Personal Data Protection Board ("Board"). It came into effect on June 1, 2024. However, the existing provisions concerning cross-border data…
The Supreme Administrative Court Has Ruled: Failure to Declare Is No Reason to Pay Default Interest on Correctly Accrued And Timely Paid Advance Corpo...
July 2024
Author: Meglena Konstantinova, Senior Associate
The Supreme Administrative Court (SAC) ordered the National Revenue Agency (NRA) to repay default interest charged on precisely defined and fully paid advance corporate income tax instalments that were not declared.
The court, in a final decision dated 21 March 2024, ruled that a company’s appeal against an act of set-off and recovery issued by the NRA was justified. By the act of set-off and recovery, the NRA refused to reimburse the company for the default interest charged on the advance corporate income tax instalments for 2021,…
Regulation on the Procedures and Principles Regarding the Cross-Border Data Transfer
July 2024
On 10 July 2024, the Regulation on Procedures and Principles Regarding the Transfer of Personal Data Abroad (the "Regulation"), which governs the implementation of Article 9 of the Personal Data Protection Law ("PDPL") concerning cross-border data transfers, was published. This Regulation primarily addresses the obligations of data controllers and processors in managing cross-border data transfers and establishes corresponding procedures.
For the full article, please use the following link.
Significant Changes to the Turkish Commercial Code and the Law on the Protection of Competition
June 2024
Law No. 7511 on the Amendment to the Turkish Commercial Code and Certain Other Laws (the “Amendment Law”) entered into force upon its publication in the Official Gazette dated 29 May 2024 and numbered 32560. The Amendment Law introduces significant amendments to the Turkish Commercial Code (“TCC”) and Law No. 4054 on the Protection of Competition (the “Competition Law”). Comprehensive amendments regarding the TCC relate to the functioning and powers of companies’ boards of directors and minimum capital requirements. In terms of the Competition Law, amendments relate to…
