Spain investment immigration focus on Spanish financial news:
The Spanish Deputy Minister of Energy is expected to announce before the 21st of this month that the country's renewable energy subsidies will be reduced by 10-20%. A meeting held last month between representatives of Spanish banks and foreign banks concluded that government subsidies have increased the operating costs of the national power system. The Spanish Photovoltaic Industry Association stated that approximately 40% of their revenue was once guaranteed by the state, but this is no longer the case, causing “financial bankruptcy and personal despair” among manufacturers. According to the Spanish Solar Energy Association (UNEF), the Spanish solar energy industry currently carries a debt of approximately 30 billion euros, though it remains unclear how much of this was generated by loans.
The Spanish Deputy Minister of Energy is expected to announce before the 21st of this month that the country's renewable energy subsidies will be reduced by 10-20%. A meeting held last month between representatives of Spanish banks and foreign banks concluded that government subsidies have increased the operating costs of the national power system. The Spanish Photovoltaic Industry Association stated that approximately 40% of their revenue was once guaranteed by the state, but this is no longer the case, causing “financial bankruptcy and personal despair” among manufacturers. According to the Spanish Solar Energy Association (UNEF), the Spanish solar energy industry currently carries a debt of approximately 30 billion euros, though it remains unclear how much of this was generated by loans.
