POLAND Trends and Developments Contributed by: Radomił Charzyński, Kamil Majewski, Olga Durawa and Filip Widuch, Greenberg Traurig LLP
be an attractive alternative for more opportun - istic investors. In larger shopping centres, tenants are increas - ingly implementing an omnichannel strategy – ie, simultaneously developing hybrid online and in-store sales. As consumers value the comfort of e-commerce and the opportunity to see a product in person in a “brick and mortar” shop, omnichannel fulfils the ROPO (Research Online, Purchase Offline) trend. To some extent, the ROPO trend and the associated change in con - sumer habits has also revived leasing activity on the high street, as more and more tenants are willing to open a store in this format. Lower inflation and rising purchasing power (linked to the improved financial condition of Pol - ish households) are expected to further boost consumer growth. This, together with the growth of the omnichannel format, will have a positive impact on retail sales. The attractiveness of the Polish retail market is also confirmed by the increasing number of new brands opening their first stores in Poland. At the end of 2023, the number of new brands entering the market was the highest since the outbreak of the pandemic, which is also an optimistic sign for the market. Renewable Energy Sector The energy market in Poland, which strongly influences and intersects with the real estate market, offers a wealth of opportunities and plays a significant role in the Polish economy. A key area of growth is the renewable energy sector, with investment in wind and solar power on the rise. In 2023, Poland once again set a record for electricity production from renewable energy sources (RES). At end of 2023, Poland’s solar capacity reached around 17 GW (a 15% year-on-year increase) and wind power reached almost 10 GW (a 40% year-on-year increase).
Increasing the share of RES electricity in energy production is one of the biggest challenges for Poland as part of the energy transition. RES are growing in number, and transmission and dis - tribution networks have difficulties managing this potential. This has led the Polish transmis - sion system operator (Polskie Sieci Elektroen - ergetyczne SA) to focus on expanding the net - work infrastructure. Such expansion is not only necessary to meet the current demand but is also a forward-looking measure. It is a crucial step towards accommodating future growth in the energy market and ensuring Poland’s energy security. In terms of legislative changes, the market has called for further liberalisation of the Act on Investments in Wind Power Plants. According to the current provisions of that Act, wind turbines must be located at a minimum distance from the nearest buildings of ten times the height of the installation, unless the local zoning plan specifies another distance (but not less than 700 metres). The liberalisation of the Act would unlock a vast amount of land for potential turbine develop - ment and it is expected to facilitate the expan - sion of wind energy in the country, accelerating the transition to a greener energy mix. Plans to reduce the above-mentioned minimum distance to 500 metres have already been announced by the new government. On the legislative front, the Act on Spatial Plan - ning and Development has undergone dynamic and significant changes during the past year. Almost 70% of Poland is affected by the key changes. In theory, streamlining the planning process and the amendment of the Act on Spa - tial Planning and Development was expected to make land development more efficient and enable faster responses to the needs of the energy sector. In practice, implementation has
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