The Czech Constitutional  Court has broadly backed the government’s right to put a brake on a solar power boom through retroactive taxes. It  pointed out that though the blanket measure may have badly hit smaller investors counting on quick returns after taking out high interest loans the government had to have lee way to react to events.

Ever since the Czech government pushed through a retroactive 26 percent tax on solar companies’ profits at the end of 2010 to stem an ongoing solar power boom the threat of a massive law suit has loomed large. Now, 11 foreign investors, all members of the International Photovoltaic Investors Club (IPVIC), have told the Ministry of Finance that within six to eight weeks they will file a lawsuit against the Czech state.

The biggest power group in Central Europe, Czech state-controlled power group ČEZ announced lower than expected first quarter net profit of Kč 14.4 billion, blaming a regulatory decision hitting its Albanian distribution company and exceptional one off gains in the same period in 2011.

Near 70 percent state-owned Czech electricity giant ČEZ says it is willing to test out whether a partner could be found for the estimated Kč 150 billion–Kč 200 billion tender to add two new nuclear reactors to its Temelín site. If the path seems promising a tender for a partner could be held once the constructor had been chosen in 2013.