Spain Suspends Subsidies for New Renewable Energy Power Plants

Spain halted subsidies for renewable energy projects to help curb its budget deficit and rein in power-system borrowings backed by the state that reached 24 billion euros ($31 billion) at the end of 2011. “What is today an energy problem could become a financial problem,” Industry Minister Jose Manuel Soria said in Madrid. The government passed a decree today stopping subsidies for new wind, solar, co-generation or waste incineration plants. The system’s debts were racked Continue reading Spain Suspends Subsidies for New Renewable Energy Power Plants