EDP Renovaveis may benefit of new green power rules in Spain - report
(ADPnews) - Dec 7, 2010 - Portuguese green energy firm EDP Renovaveis (ELI:EDPR) may benefit of the new rules for the renewables energy sector in Spain.
The Spanish government has approved new regulation for the tariffs of the electricity generated in wind farms and solar power plants, business daily Jornal de Negocios wrote in its Tuesday edition.
The new rules, negotiated with the private sector, include a 35% reduction of the funding to the wind power segment in the coming two years. However, on the other hand, the Spanish authorities will guarantee stable tariffs for all projects to get green light until the end of 2012. This measure will give to the operators the possibility of projecting future revenues with more success.
EDP Renovaveis has 34% of its entire installed capacity in Spain. The bulk, or 48%, is located in the USA.