The Spanish Financial sector is still in a precarious condition which is underscored by the record European Central Bank (ECB) borrowing . The indications of weaknesses in Spanish banking sector arose as Cajas were forced to merge or taken over by the Spanish Central Bank.These Cajas are considered the weakest spot due to their poor […]
Spanish Government Facing a Tough Fiscal Situation;Plans Green Energy Subsidy Change The Spanish Government has been facing a tough budgetary situation due to sovereign debt problems afflicting Europe.The government is trying to structurally reform its Energy Sector to make it more competitive and dynamic.Spain has one of the largest Renewable Energy Capacities in the world […]
Most of these reports had been quite vague but a recent report explicitly mentions that Danish Pension Funds writing to Spanish and EU investors voicing their concerns.With such Big Players joining the fray,its no wonder that Spain is reconsidering its whole Energy Policy.
European countries have been hit hard by the Greek Contagion and are trying to outdo each other in reducing their fiscal deficits.Renewable Energy which is looked upon as good but not as an essential need is facing harsh cuts.Spain is on its way to radically cut Green Energy subsidies as part of broader economic reforms.Note […]
Background on Spanish Government’s proposal to cut Solar Subsidy on Existing Plants The Spanish government has been actively discussing with industry groups on how to reduce its Green Energy subsidies as the country faces a critical budgeting and funding problem.The impact of an “industry killing” 30% cut to existing solar plants would be quite devastating […]
According to the Spanish Solar Power Lobby ASIF,the Spanish government (under Pressure with Spanish Banks facing Funding Problems and Spanish Bond Yields Rising) is proposing a cut of 30% in “guaranteed subsidies” to existing solar plants . Under the Feed in Tariff (FIT) scheme implemented by countries to promote renewable energy,power producers are guaranteed a […]