Iberdrola said in its renewables division, first-quarter earnings fell 63% before interest, tax, depreciation and amortisation (Ebitda) and net profits plunged 93%.
That was despite record wind generation in the January-March period.
Iberdrola said of the new Spanish regulation, which include a tax on production and change support arrangements: “The impact of these new measures has especially affected wind installations, rather than other technologies such as solar energy.”
The
