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Spain plans to cut subsidies for new wind farms, Cinco Dias says  

Credit:  By Todd White, Bloomberg, www.bloomberg.com 20 September 2011 ~~

Spain is planning to reduce subsidies for wind farms that begin producing electricity in 2013, Cinco Dias reported, citing unidentified people in the industry ministry that are working on a draft rule.

The new regulation would also reduce the number of hours a day and amount of years during which wind-driven generators could collect above-market rates, the Spanish newspaper reported.

Spain’s landmark renewable-energy law, 661/2007, only governs wind-power prices for new projects through the end of next year, and power companies are eager for new rules to be set by the Socialist party-led government before it faces general elections on Nov. 20, the report said.

Source:  By Todd White, Bloomberg, www.bloomberg.com 20 September 2011

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