Saturday, May 16, 2009

Spain plans changes to renewable energy aid rules

(Reuters) - Spain plans to change rules on state aid for renewable energy generators, an industry ministry spokesman said on Friday, arousing fears in the sector that its lucrative subsidies may shrink.

Under a new regulatory framework that has not yet been finally decided, the government could also change its targets for installed wind capacity, which are now at 20 gigawatts by 2012, rising to 40 GW in 2020, the spokesman said.

"In theory, new targets would be set on an annual basis," he said.

At current growth rates, Spain could meet the 20 gigawatts target well before the scheduled 2012.

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http://www.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idUSL899791820090508