Spain’s renewables industry applauds new payment scheme

by Jason Deigh, Greentech Media

Spain’s renewables industry is celebrating proposed legislation that could provide plant owners with guaranteed income for up to 12 years.

The regulatory framework would give renewable energy plant owners the option to stick with their current level of remuneration until the end of 2031, or switch to a formula based on the weighted average cost of capital that will be reviewed after six years.

Both options are seen as a vast improvement on the current system. Under a statutory review this year, the system would have seen a so-called “reasonable return” remuneration scheme falling about 42 percent in value, from a nominal 7.39 percent today to around 4.3 percent from 2020.

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