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Together is powerful

Together is powerful

Blog  / Environment

Adv. Michael Barnea
Despite the many internal and external challenges unique to Israel, the country has successfully transformed itself into a powerhouse of technological innovation. Israel has become an excellent destination for international business, boasting a strong local currency, an active local economy, and robust export industries. 
Adv. Gal Oren
Israel has for years led the world in technology and entrepreneurial growth and development. After building in a number of key tech areas like cyber security and biotech, the nation has turned its sights on bolstering capabilities in renewable energy. Recently, the Israeli government announced a new initiative focused on pushing development of renewable energy into the 21st century. This creates a prime opportunity, for Israel's energy companies and for investors looking to become part of this growth in the years ahead.   Sources of Renewable Energy in Israel Israel receives a great deal of sun, and Tel Aviv University's Center for Renewable Energy estimates that covering merely eight percent of the Negev Desert with solar panels could supply all of Israel's energy needs.   To make this work, Israel needs the benefit of technology to maximize production of electricity converted from solar sources, efficiently store solar energy, along with infrastructure changes to allow better transmission of solar power across the country. This leads to ever increasing amount of people working to develop these technologies to improve its renewable energy capabilities.    The Opportunity Emerging As of this time last year, 2.6 percent of Israel's energy was produced from renewable sources. Given the amount of solar energy available to be harvested, this creates tremendous growth opportunities in this field. In fact, the Electric Authority recently issued a the first tender out of four that are scheduled to take place this year for solar generation, and announced on March 2017 its first round winners, which committed collectively to almost 235 megawatts of electric generation within the scope of 300 megawatts allocated to this tender and overall scope of over 1,000 megawatts for all four tenders scheduled this year.   Beyond creating opportunity for the companies building the facilities, this new focus on solar generation can create a boom for technology start-ups and established companies that develop mechanisms for more effectively storing and transferring solar energy.   If you're ready to build or invest in this growth opportunity, the Ministry has developed a regulatory structure for which you should be prepared. Barnea & Co. can help you understand and move through the system to get your company or investment working efficiently and legally.   Source: barlaw.co.il
Adv. Asaf Shalev
The European Union (EU) has driven environmental policy across Europe since its inception in 1992. With the United Kingdom's (UK) referendum of withdrawal from the EU, though, how it responds in its energy and environmental legal and regulatory structure could affect not only the UK, but the European and even the global marketplace.   The UK's Energy Needs The UK, under Article 50 of the Lisbon Treaty, has two years to negotiate the terms of its withdrawal. Initially, then, it will still operate under the treaties and laws in place with the EU. Imports accounted for 61% of the UK's overall energy consumption as of 2014, with 71% of its imported natural gas coming from the EU and Norway, in particular. The negotiations will thus need to take into account this current dependence and likely will include some adherence to the EU's standards currently in place. Options include a limited free trade agreement similar to the accord between Canada and the EU (known as the ‘Canadian model’); individual-sectorial, bilateral agreements with the EU (known as the ‘Swiss model’); or retaining membership as a non-member to the European Economic Area (known as the ‘Norwegian model’). Because the UK is one of the largest suppliers of natural gas in the EU, it retains some negotiating power as it seeks the agreement most advantageous to its own energy and economic needs.   Impact on Climate and Environmental Concerns The UK has to this point been one of the more ambitious proponents of energy regulation and climate change. Brexit means the role it can play in seeking to regulate carbon emissions on the continent and in the world will diminish. The British approach to emissions testing could include establishing its own independent system, in which it negotiates a tie to the EU system, or some hybrid approach. While the result will not come out immediately, the decisions and treaties put into place could greatly impact the EU energy policies that emerge and, as a result, global environmental policies.   The world's approach to environmental regulation currently faces a great deal of uncertainty. Political developments over the next two years will create ripples through the world's energy markets, in terms of costs of doing business and environmental impact the EU and UK create.   Source: barlaw.co.il
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