Acciona flags legal action over Spain reforms

Spanish renewables group Acciona says it will seek "legal protection" from "drastic regulatory measures" in its home market.

Like other power producers, Acciona is weighing the costs of government plans to reform Spain's power market and address its so-called "tariff deficit".

Presenting the group's annual results, CEO José Manuel Entrecanales Domecq said: "We believe it is a major breach of investor confidence which will have a massive impact on [our profitability]."

Acciona claims renewables have suffered worst from the various measures announced by Spain, including a generation tax and tariff changes.

The company has almost 6GW of capacity in its home market, and believes the cumulative impact of the measures will be…

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