Slash in subsidies to risk EUR 3.12bn investment in wind power sector in Catalonia

Slash in subsidies to risk EUR 3.12bn investment in wind power sector in Catalonia

(SeeNews) – Sep 30, 2011 – The 50 wind power companies grouped in the Catalan wind power association EolicCat fear that the region may lose investments worth EUR 3.12 billion (USD 4.221bn) if the government approves the 40% proposed slash in subsidies for the sector.
According to the association, the change of the model with annual quotas and limiting the subsidised hours does not guarantee the reasonable profitability as stated in the law.
The changes in the legislation puts at risk 123 wind farms with an installed capacity of 2,270 MW.

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Published Sep 30, 2011 15:41 CEST

Author Valentin Atanassov

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