Spain Government Doesn't Rule Out Retroactive Renewable Subsidy Cut
April 21 2010 - 6:32AM
Dow Jones News
Spain's government doesn't rule out a retroactive cut in its
generous subsidies for renewable power, an industry ministry
spokesman said Wednesday.
Shares in renewable energy companies plunged Wednesday amid
regulatory concerns after Spanish media speculation about a
retroactive subsidy cut.
At 1055 GMT, engineering and renewable power company Abengoa SA
(ABG.MC) fell 4.9% to EUR20.07, while wind turbine maker Gamesa
Corporacion Tecnologia SA (GAM.MC) fell 3.9% to EUR10.23 and wind
power producer Iberdrola Renovables SA (IBR.MC) was down 2.8% at
EUR3.04.
A retroactive cut is legally possible, but the government hasn't
taken a decision yet and is weighing its options, the industry
ministry spokesman said.
-Juan Montes, EFE Dow Jones, djmadrid@dowjones.com; +34-91-395
8120,
(Bernd Radowitz contributed to this article)
EDP Renovais (PK) (USOTC:EDRVF)
Historical Stock Chart
From Jan 2025 to Feb 2025
EDP Renovais (PK) (USOTC:EDRVF)
Historical Stock Chart
From Feb 2024 to Feb 2025
Real-Time news about EDP Renovais SA (PK) (OTCMarkets): 0 recent articles
More EDP Renovaveis S/A News Articles