Recent research shows that a number of Dutch municipalities are concerned about the origin of the cash flows and investments in the renewable energy sector, and in particular with regard to solar energy projects. The scope (and enforcement) of laws and regulations in the field of the prevention of money laundering and the financing of terrorism is increasing all the time, which means that more and more people and companies have to meet the requirements imposed by, among others, the Dutch Money Laundering and Terrorism Financing Prevention Act (Wet ter voorkoming van witwassen en financieren van terrorisme, the Wwft). Expanding the scope of AML laws and regulations carries the risk that alternatives will be sought to, among other things, launder money. Municipalities have reason to believe that the solar energy sector could offer a possible alternative. This suspicion stems from the enormous increase in solar energy projects and the involvement of (foreign) investors in such projects.
An increasing number of municipalities is now screening developers of solar parks for integrity and the expectation is, as appears from an article that was recently published in Het Financieele Dagblad, that this trend will continue in the coming period. For this purpose, municipalities make use of their powers based on the Integrity Assessment by Public Administration Promotion Act (Wet bevordering integriteitsbeoordelingen door het openbaar Bestuur, the Bibob Act). The Bibob Office is responsible for conducting the screening and, at the request of the municipality in question, investigates whether there may be an integrity risk in the granting of, for example, a permit. In such a case, the integrity risk could consist of misuse of the license, by offering investors (consciously or not) the opportunity to launder money. Screening developers (and possibly investors) can have an impact on solar projects. Not only because of the time, and therefore delay, that such screening entails, it can also result in licenses not being granted or possibly revoked.
It is therefore becoming increasingly important for developers to prepare for a possible screening under the Bibob Act and to take this into account when planning and selecting and approaching potential investors. Preparation can take place, for example, by preparing clear cashflow overviews and expectations, including information on the origin of the moneys and actively screening potential investors. Our specialists can advise you about your rights and obligations and can assist you in dealing with Bibob requests. In addition, our specialists can advise you on your obligations under the Wwft and other integrity legislation, both nationally and internationally. They can also guide you and assist you in the selection of investors.
18 Sep 23
08 Sep 23
07 Aug 23
11 Jul 23
10 Jul 23
19 Jun 23
16 May 23
10 May 23
03 May 23
02 May 23
12 Apr 23
17 Mar 23
Met uw inschrijving blijft u op de hoogte van de laatste juridische ontwikkelingen op dit gebied. Vul hieronder uw gegevens in om per e-mail op te hoogte te blijven.
Stay up to date with the latest legal developments in your sector. Fill in your personal details below to receive invitations to events and legal updates that matches your interest.
*This field is requiredI already have an account
Follow what you find interesting
Receive recommendations based on your interests
We ask for your first name and last name so we can use this information when you register for a Ploum event or a Ploum academy.
A password will automatically be created for you. As soon as your account has been created you will receive this password in a welcome e-mail. You can use it to log in immediately. If you wish, you can also change this password yourself via the password forgotten function.