Solar energy projects in Spain are being downsized and two major companies are holding off on plans to go public or sign new investment deals, as the country moves to reduce its energy liabilities. Solar energy is heavily subsidized, although most of that is passed directly on to customers. The Greek public debt crisis has Spain, along with other countries including Ireland and Portugal, worried about their own level of public debt and future liabilities. Standard & Poor’s cut its credit rating 28 April. Spain, with long hours of sunlight, has one of Europe’s most developed solar energy programmes.

Links to other sites: Bloomberg, New York Times, wikipedia

You can leave a response, or trackback from your own site.