Spain Nearing Accord With Solar Producers on Reducing Subsidies [Spain]
BLOOMBERG - The Spanish government and solar power producers are moving toward an agreement aimed at reducing subsidies to the industry and reining in electricity prices without damaging the country’s renewable energy industry.
A draft document forming the basis of talks between executives and government officials said subsidies for plants already operating would be cut 10 percent to 15 percent over the next three years, compensated by three extra years of payments. An Industry Ministry spokesman confirmed the authenticity of the document and said the government will seek deeper cuts.
