The company is Chicago based Invenergy LLC, a renewable energy supplier, who have invested over 2 billion zloty in Poland since 2005. They claim that Poland has violated a US-Poland bilateral investment agreement signed in 2005 by cancelling long term contracts. The U.S. company said it accepted what were below-the-market prices for energy from its wind farms in 2010 in exchange for the stability that long-term contracts provide.
"We saw it as a new EU member, and a party looking to embrace the concepts of the EU, including renewable energy," Jim Murphy, Invenergy's president, said in an interview Monday. But now, "we would be hesitant to invest new money in the country until we could see support for rule of law and honoring long-term contracts."
Breaking contracts, refusing to honour agreements, going back on your given word,ignoring international law, EU law, and even your own law, very much a feature of PIS policy.
"We saw it as a new EU member, and a party looking to embrace the concepts of the EU, including renewable energy," Jim Murphy, Invenergy's president, said in an interview Monday. But now, "we would be hesitant to invest new money in the country until we could see support for rule of law and honoring long-term contracts."
Breaking contracts, refusing to honour agreements, going back on your given word,ignoring international law, EU law, and even your own law, very much a feature of PIS policy.