What's new at DZP?
The municipal waste thermal treatment plant in Poznan is not only the first incineration plant in Poland to be built by a PPP, the first hybrid project of this scale (i.e. combining private funds with public funds derived from EU grants), but is also the first local government investment in which non-standard solutions as regards project financing structure have been implemented.
To secure the risk of interest rate fluctuations and the foreign exchange risk arising from expenses being incurred in euro, on 16 April 2014 the Private Partner (Sita Zielona Energia) concluded swap and fx forward transactions eliminating these risks. In a competitive procedure approved by the City of Poznan, SZE submitted offers of three banks. The City of Poznan agreed to these transactions being carried out by SZE after having analysed and confirmed the arm’s length nature of the prices proposed. The City was provided with legal support by DZP.
According to the PPP contract between the City of Poznan and SZE, once the security transactions have been concluded there will be a recalculation of the financing model based on which the private partner’s remuneration is calculated. As the security transactions were concluded on favourable terms, the remuneration to be paid by the City of Poznan to SZE in the future has been substantially reduced (from the assumptions in the ToR).
Conclusion of the security transactions was also the final key stage before construction work starts. However, after finalisation of this stage, e.g. on 17 April 2014, work started on cutting down the trees on the site where in approx. 30 months the incineration plant is to stand.
The key lawyer involved in the advisory at this stage of the project was Krzysztof Fliszkiewicz, Senior Associate, with the co-operation of Magdalena Zabłocka, Senior Associate in DZP’s Infrastructure and Energy Practice.
From 25 May 2018 the General Data Protection Regulation (GDPR) applies in Poland and other European Union countries. We would therefore like to give you several details on the subject of how DZP processes personal data.
The administrator of the personal data is Domański Zakrzewski Palinka Sp.k. (“DZP”; address: Rondo ONZ 1, 00-124 Warszawa). Data are processed for contact purposes and to impart information on changes to provisions and authority practices and on other issues, including events concerning day-to-day legal, economic and cultural issues, inter alia, by sending DZP newsletters. The above is carried out on the basis of legitimate interests, i.e. in accordance with art. 6(1)(f) of the GDPR. Data can also be processed where necessary for the conclusion or performance of a contract and for compliance with a legal obligation to which DZP is subject, i.e. pursuant to art. 6(1)(b) and (c) of the GDPR. Data can be transferred to entities with whose help DZP achieves the indicated aims, including entities maintaining IT infrastructure. Giving data is voluntary and in contractual relations is a requirement for concluding and performing a contract. It is possible to object to data processing, request access to, rectification and erasure of personal data or restriction of processing and data portability. Data are kept until an objection is made, and in contractual relations – throughout the term of the contract and thereafter for a period specified in provisions on archiving and limitations period for claims. Anyone has the right to file a complaint with the President of the Personal Data Protection Office. Questions concerning privacy at DZP can be sent to DZP’s Data Protection Inspector, Macieja Maciejewskiego, at: email@example.com.
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