Arab Today, arab today clouds gather over spain\s renewables sector as aid cut
Last Updated : GMT 11:16:14
Arab Today, arab today
Arab Today, arab today

Clouds gather over Spain\'s renewables sector as aid cut

Arab Today, arab today

Arab Today, arab today Clouds gather over Spain\'s renewables sector as aid cut

Madrid - AFP

Spain\'s push to become a world leader in renewable energy risks collapsing after the government slammed the brakes on generous subsidies as part of an austerity drive. Prime Minister Mariano Rajoy\'s government passed a decree on Friday to \"temporarily suspend\" subsidies for all new wind, solar, co-generation or waste incineration plants as it seeks to curb the public deficit. The measure will save at least 160 million euros ($210 million) this year, for which the government has received subsidy requests for projects to install 500 megawatts of new capacity, Industry Minister Jose Manuel Soria said. But industry leaders say the halt to the subsidies, combined with uncertainty over how long the suspension will last, will deflate investor interest in what was once one of Spain\'s most dynamic sectors. \"This decision is one of the biggest blows ever to the sector,\" said the head of lobby group Fundacion Renovables, Javier Breva. Who is going to invest in the renewable energy sector after this decree?\" The subsidies introduced by the previous Socialist government, which pushed renewable energy as a new source of economic growth and jobs, fueled the development of wind parks and solar power stations across the country. In 2008 Spain accounted for half the world\'s new solar power installations in terms of wattage thanks to the subsidies designed to help get the young sector up and running. The boom in renewables helped several Spanish firms to become global leaders in the sector. Power giant Iberdrola is the world\'s biggest producer of clean energy while Gamesa is one of the world\'s top wind turbine makers. But the previous Socialist government started scaling back the subsidies at the end of 2008 as the global economic crisis began to bite and Spain entered into recession. For wind power they were slashed by 35 percent until 2013. From 2008-2010 the sector shed 20,000 jobs largely because of the previous government\'s subsidy cuts, and the end of new subsidies announced Friday will likely lead to the loss of a similar number of jobs this year, said Breva. \"But what worries me more are the hundreds of thousands of jobs which would be generated and which now will not be,\" he said, adding that the previous government had predicted the sector would generate 300,000 jobs by 2020. Renewable energy sources like wind and solar power can not yet compete on price against electricity generated from coal or natural sources, so government subsidies play a crucial role in their development. The Spanish wind power sector grew at its slowest rate last year because of the subsidy reform. The country had 21,673 megawatts of wind power capacity at the end of 2010, an increase of just 1,050 megawatts or 5.1 percent over the previous year, the Spanish Wind Power Association said Tuesday. Jose Antonio Gonzalez, the head of FENIE, a lobby group that represents electrical power installation firms, said: \"There are many companies that are not going to be able to make it until the end of the year\" because of the end to new subsidies. \"We are pioneers, we have good know-how. We have to create jobs in Spain but this way we are not going to be able to do it,\" he added. The loss of jobs in the clean energy sector would add to Spain\'s already dire unemployment situation. The country\'s jobless rate soared to just under 23 percent at the end of last year, the highest in the industrialised world, in the wake of the collapse of a property boom. Environmentalists worry that the cuts to subsidies will increase Spain\'s reliance on fossil fuels. \"Spain can\'t afford the luxury of taking a step backwards. This is one of the few fields where we are world leaders,\" said Carlos Bravo of the Spanish branch of Greenpeace. The government says the cuts will not affect Spain\'s contribution to reaching European renewable energy targets. The European Union aims to have 20 percent of its total energy use covered by renewable sources from 2020.  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today clouds gather over spain\s renewables sector as aid cut Arab Today, arab today clouds gather over spain\s renewables sector as aid cut

 



Arab Today, arab today
Arab Today, arab today Fadi Kataya explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Zainab al-Maliki reveals herTV presenter models

GMT 18:12 2017 Friday ,24 February

Zainab al-Maliki reveals herTV presenter models

GMT 05:20 2017 Thursday ,23 February

WTO ratifies first multilateral trade deal

GMT 21:36 2017 Wednesday ,22 February

Opec needs to prolong cuts to eliminate surplus

GMT 16:32 2017 Wednesday ,22 February

US Treasury chief tells IMF to monitor currencies

GMT 16:08 2017 Wednesday ,22 February

Qatari banks merger to rebalance financial sector

GMT 05:57 2017 Wednesday ,22 February

Britain risks clash with EU over RBS bailout

GMT 05:26 2017 Wednesday ,22 February

Singapore carbon tax would hit refiners, help renewables
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday