NewEnergyNews: NEW ENERGY INVESTORS TO SUE SPAIN

NewEnergyNews

Gleanings from the web and the world, condensed for convenience, illustrated for enlightenment, arranged for impact...

While the OFFICE of President remains in highest regard at NewEnergyNews, this administration's position on climate change makes it impossible to regard THIS president with respect. Below is the NewEnergyNews theme song until 2020.

The challenge now: To make every day Earth Day.

YESTERDAY

  • TODAY’S STUDY: How Get The Stacked Values Of Battery Storage
  • QUICK NEWS, October 16: Worse Than ‘The New Normal’; New Energy To The Rescue; How Rooftop Solar Cuts Everybody’s Power Bills
  • THE DAY BEFORE

  • Weekend Video: Bloomberg To Colbert – New Energy Is The Answer
  • Weekend Video: Global New Energy Keeps Coming On
  • Weekend Video: The Long Reach Of New Energy
  • THE DAY BEFORE THE DAY BEFORE

  • FRIDAY WORLD HEADLINE-Why Geoengineering Has Comes With Big Risks
  • FRIDAY WORLD HEADLINE-The Immense Potential Of Ocean Wind
  • FRIDAY WORLD HEADLINE-The Best Place To Build New Energy Is China – Survey
  • FRIDAY WORLD HEADLINE-Japan’s Mitsubishi Sees EV Price Beating Gas Cars
  • THE DAY BEFORE THAT

    THINGS-TO-THINK-ABOUT THURSDAY, October 12:

  • TTTA Thursday-Big Work Now Ahead On Climate Change
  • TTTA Thursday-New Energy Ready To Take Over In The New South
  • TTTA Thursday-How The Ocean Can Store New Energy
  • TTTA Thursday-Indiana Nun Fights For Solar
  • AND THE DAY BEFORE THAT

  • ORIGINAL REPORTING: New Hampshire Makes A New Energy Compromise That was ‘Worth It’
  • ORIGINAL REPORTING: Survey Shows Utilities Expect New Energy Expansion
  • THE LAST DAY UP HERE

  • TODAY’S STUDY: Why Big Buyers Buy New Energy
  • QUICK NEWS, October 10: Why Tariffs On Solar Will Backfire On The President; Private Sector Seizes Wind Opportunity; The EV Boom Needs 1000s More Plugs
  • --------------------------

    --------------------------

    Founding Editor Herman K. Trabish

    --------------------------

    --------------------------

    click image for more info about the Sunstock Solar Festival

    Research Associate and Contributing Editor Jessica R. Wunder

    --------------------------

    --------------------------

    --------------------------

    Some details about NewEnergyNews and the man behind the curtain: Herman K. Trabish, Agua Dulce, CA., Doctor with my hands, Writer with my head, Student of New Energy and Human Experience with my heart

    email: herman@NewEnergyNews.net

    -------------------

    -------------------

      A tip of the NewEnergyNews cap to Phillip Garcia for crucial assistance in the design implementation of this site. Thanks, Phillip.

    -------------------

    Pay a visit to the HARRY BOYKOFF page at Basketball Reference, sponsored by NewEnergyNews and Oil In Their Blood.

  • ---------------
  • TODAY AT NewEnergyNews, October 17:

  • TODAY’S STUDY: Global Nuclear Now
  • QUICK NEWS, October 17: Top 5 Climate Change Solutions; EVs To Lead By 2030; Diversity In Solar

    Friday, February 22, 2013

    NEW ENERGY INVESTORS TO SUE SPAIN

    Exclusive: Foreign investors set to sue Spain over energy reform

    February 14, 2013 (Reuters)

    “Foreign investors in renewable energy projects in Spain have hired lawyers to prepare potential international legal action against the Spanish government over new rules they say break their contracts…It is unclear how much claims might be worth, but international funds have more than 13 billion euros ($17 billion) of renewable energy assets in Spain and say that the government has reneged on the terms of their investment.

    “The Spanish Parliament [just] approved a law…[cutting] subsidies for alternative energy technologies, backtracking on its push for green power…That measure, along with other recent laws including a tax on power generation that hit green energy investments especially hard, will virtually wipe out profits for photovoltaic, solar thermal and wind plants, sector lobbyists say.”

    “International commercial law firm Allen & Overy…[represents] investors [from the United States, Japan and the United Arab Emirates who poured money into Spanish wind and solar projects, drawn to generous subsidies during a decade-long economic boom that helped the country to become one of the biggest markets for investments in green energy. But the cost of the subsidies were not passed on fully to consumers because that would have pushed prices to unprecedented highs]…

    “…[The claims are being made] under the…Energy Charter, an internationally ratified treaty that binds members to rules on energy and arbitration. [Spanish companies such as Acciona and Abengoa have also been hit hard by the new rules, but because it is passed as a decree by the government, Spain-based companies have virtually no form of appeal and will not join the claims…Spain's Industry Minister Jose Manuel Soria defended the law in Parliament…[by saying] the measures were necessary to eliminate the accumulated 28 billion euro ($37.4 billion) tariff deficit in the electricity system…That deficit, built up through years of the government holding down electricity prices at a level that would not cover regulated costs including renewables premiums, is at the heart of Spain's energy sector woes…”

    0 Comments:

    Post a Comment

    << Home