Piotr Klimowicz
Business Development Manager
The energy and renewable energy sources (RES) sector operates in an environment of complex and changing legal regulations, growing reporting requirements and high capital expenditures. Energy projects, from photovoltaic and wind farms to extensive energy infrastructure, require a precise approach to accounting, tax settlements, project financing, reporting and broadly understood tax compliance. In a dynamic market environment, cooperation with a partner who understands the investment lifecycle of energy projects and the associated financial and tax risks is of key importance. Experience in serving energy and heating projects allows KR Group experts to ensure tax security, financial stability of investments and full transparency of processes.
Why choose KR Group in the energy and RES industry
Experience in serving energy and RES projects
We have extensive experience in serving entities from the energy and RES sector in the CEE region. Our current clients include companies investing in photovoltaic farms, wind power plants, conventional power and heating plants and energy infrastructure.
Knowledge of operational and legal realities
We understand the specifics of operating photovoltaic and wind farms, conventional energy and heating, and energy infrastructure – from energy settlements to cooperation with operators and suppliers. We continuously monitor changing regulations on accounting reporting in the energy sector, adapting the technology supporting our clients accordingly.
We look at projects through investors’ eyes
We work with entities for whom data transparency, reporting quality and risk control are key – we understand the requirements of international investment funds, financing institutions and capital partners.
Security as the key to success
Geopolitical, regulatory and tax changes have a direct impact on the profitability of projects – we focus on identifying risks and ensuring compliance with regulations at every stage of support.
Focus on long-term investment value
We think ahead – we focus not only on current issues, but above all on the stability and maximisation of investment value over time.
Technological approach to financial management
We have our own technology department – we use ERP systems and reporting tools to automate processes and integrate data from energy projects. We deliver current data, including in real time, to source systems or our own Business Intelligence (BI) infrastructure.
We know what energy and RES investments look like
We understand that energy projects are a complex process, and each stage requires a different approach to tax planning and reporting.
Our offer
Accounting outsourcing for the energy and RES sector
- Maintenance of full project accounting for RES for photovoltaic and wind farms, including revenues from PPA (Power Purchase Agreement).
- Settlements with energy trading exchanges.
- Maintenance of accounting for energy companies.
- Maintenance CAPEX and OPEX settlements in renewable energy source projects.
- Integration with ERP systems for energy projects.
- Settlement of RES investment costs, including: allocation of construction costs, leasing of wind turbines, PV panels, service costs and operating charges.
- Preparation of accounting period closings.
- Preparation of reports for RES investors, such as: preparation of balance sheets, profit and loss accounts, cash-flow, etc.
- Providing source data for reporting, including to URE (Energy Regulatory Office) and ARE.
- Energy project profitability monitoring.
- Cash flow forecasts and RES project efficiency analysis.
- International energy project management in the CEE region in accordance with local regulations.
- Support in managing the profitability of companies (calculation of margins, efficiency indicators, profitability).
- Financial reporting for companies in RES capital groups, including correct recognition of intercompany transactions and their accounting records.
- Preparation of a unified accounting policy for capital groups in the RES industry and support in its implementation.
- Adaptation of the chart of accounts to the requirements of statutory and management reporting.
- Maintenance of fixed asset registers taking into account the specifics of the industry.
See more: Accounting outsourcing.
Tax advisory, tax reporting for the energy and RES sector
- Preparation of tax declarations for photovoltaic and wind farms, such as: VAT, CIT, PIT, withholding tax, local taxes.
- Tax planning for energy projects: VAT on investments, fuel, service costs and RES components.
- Advisory on investment and energy reliefs.
- Settlements: import of PV components and wind turbines, export of energy, intra-Community acquisition/supply (WNT/WDT), customs clearance and cross-border VAT.
- Preparation of settlements for debt-financed projects (RES project finance).
- Advisory on mergers (consolidation) and the sale of companies, including support in the transfer of required licences and permits.
- Execution of due diligence and tax audits of RES projects, including: review of investments for tax risks and compliance with energy regulations.
- Development and implementation of tax procedures compliant with energy and environmental law.
- Preparation of transfer pricing documentation in RES and energy projects.
- Advisory on the identification of minimum tax.
- Support in the correct identification of buildings for real estate tax purposes.
See more: Tax advisory and Tax compliance.
HR and payroll, HR outsourcing for the energy and RES sector
- Full HR and payroll services for project and operational employees.
- Settlement of civil law contracts, managerial contracts, B2B contracts, and permanent and seasonal teams.
- Maintenance of personnel files in electronic or paper form.
- Maintenance of records of working time, settlement of overtime, holidays, training and sick leave.
- Preparation of HR reports for investment projects presenting employment costs and team profitability analysis.
See more: HR and payroll outsourcing.
Legal advisory for the energy and RES industry
- Preparation and analysis of project contracts – EPC, O&M, PPA, contracts with suppliers, subcontractors and operators.
- Preparation of work regulations.
- Ongoing support in the area of energy and environmental law regulations.
- Support in obtaining green energy certificates.
- Verification of investment structure and contracts.
- Support in company formation and liquidation.
- Representation of the company in contacts with supervisory authorities.
- Ongoing support in civil, commercial and trade law.
- Support of management boards in ongoing corporate obligations.
See more: Legal advisory.
Expansion into new markets and development of energy projects
- Registration of a company in the CEE region, preparation of financial and operational structures.
- Support in the consolidation of projects, management of company groups and reporting for investment funds.
- Support in environmental and regulatory compliance.
See more: Expansion into new markets.
FAQ
What does accounting and tax advisory for the RES industry at KR Group look like?
Tax advisory for the RES industry requires specialist knowledge and familiarity with the regulations characteristic of the renewable energy sector. Complex regulations, reporting requirements and dynamic legal changes pose a challenge for entrepreneurs operating in this industry. KR Group provides comprehensive accounting and tax support, tailored to the specifics of operations in the RES area. We encourage you to use our offer and entrust tax matters to experienced experts.
The renewable energy sector is subject to numerous regulations – both at national and EU level. Accounting for the RES industry covers, among other things, the settlement of grants, investment reliefs, energy certificates and complex project structures, such as wind farms and photovoltaic installations. At KR Group we combine many years of experience with an in-depth knowledge of regulations, ensuring reliable accounting and tax services tailored to the realities of this dynamically developing sector.
We have extensive experience in financial reporting for companies from the RES sector that form part of capital groups, in accordance with applicable accounting standards and regulatory requirements. We support in the processes of consolidating financial statements, management reporting and adapting financial data to the requirements of investors and financing institutions, taking into account the specifics of energy projects.
Tax advisory and accounting for the RES industry – for whom?
We direct our services to a wide range of entities operating in the renewable energy sources sector. Tax advisory for renewable energy covers support both for developers of RES projects and operators of wind and photovoltaic farms, and for special purpose vehicles established to implement specific investments. We cooperate with companies at various stages of development – from start-ups to large entities with international reach. Accounting for renewable energy as we deliver it takes into account the specifics of holding structures and group reporting requirements.
Accounting and tax advisory for renewable energy – what does KR Group's offer look like?
As part of our offer we provide comprehensive services covering the key areas of accounting for the RES industry and tax advisory for renewable energy. The scope of services covers, among other things:
- Maintenance of accounting books in accordance with the Accounting Act, IFRS and US GAAP,
- settlement of grants, certificates and investment reliefs characteristic of the RES sector,
- support in the area of transfer pricing and withholding tax,
- tax reviews and representation during tax audits,
- financial, management and statistical reporting,
- preparation of a tax strategy tailored to the client’s project structure.
Why is it worth entrusting accounting for renewable energy to specialists?
RES projects are characterised by a complex financial structure, multiple revenue sources and specific reporting obligations. Accounting outsourcing allows these tasks to be entrusted to experienced experts who understand the specifics of the industry. Thanks to this, entrepreneurs can focus on the development of energy projects, with the assurance that tax advisory for the RES industry is carried out in accordance with current regulations. Accounting for renewable energy also ensures ongoing financial control of investments and support in optimising tax settlements at every stage of project implementation.
How does KR Group adapt tax advisory to the specifics of RES?
Our team has many years of experience in serving entities from the renewable energy sector. Tax advisory provided by KR Group always takes into account the individual situation of the client – we analyse the project structure, identify available reliefs and protect settlements against risk. As a tax and accounting group we operate in Poland, the Czech Republic, Romania, Hungary and Slovakia – we support companies planning expansion in the CEE region.
When providing accounting services for RES industry companies, does KR Group take into account ESG (Environmental, Social, Governance) guidelines?
Yes, when providing accounting services and tax advisory for RES industry companies (renewable energy sources), KR Group takes into account the latest ESG (Environmental, Social, Governance) guidelines. Our support covers the reporting of data in accordance with sustainable development requirements, including the analysis of the impact of energy projects on the environment, society and the company’s governance structure.
