Renewable projects will be subject to a new framework based around “reasonable profitability”, which the government indicated would be set at 7.5%, as part of a wider plan designed to save an extra €4.5bn ($5.9bn) this year – of which Spain’s power industry will bear the brunt at €2.7bn.
There were few further immediate details of the reforms, but the announcement sent shares in Spanish power companies plunging.
Renewables
