• 5 minutes 'No - Deal Brexit' vs 'Operation Fear' Globalist Pushback ... Impact to World Economies and Oil
  • 8 minutes China has *Already* Lost the Trade War. Meantime, the U.S. Might Sanction China’s Largest Oil Company
  • 12 minutes Will Uncle Sam Step Up and Cut Production
  • 12 mins China has invested btw $30 - $40 Billon in Canadian Oil Sands. Trump should put 10% tariffs on all Chinese oil exported into or thru U.S. in which Chinese companies have invested .
  • 15 hours Iran Is Winning Big In The Middle East
  • 2 hours Tit For Tat: China Strikes Back In Trade Dispute With U.S. With New Tariffs
  • 4 hours Trump vs. Xi Trade Battle, Running Commentary from Conservative Tree House
  • 2 hours It's Not the Job of the Government to Dictate Where Businesses Should Go
  • 17 hours Not The Onion: Vivienne Westwood Says Greta Thunberg Should Run the World
  • 16 hours IS ANOTHER MIDDLE EAST WAR REQUIRED TO BOLSTER THE OIL PRICE
  • 1 day OPEC will consider all options. What options do they have ?
  • 1 day Trump cancels Denmark visit amid spat over sale of Greenland
  • 13 hours Strong, the Strongest: Audi To Join Mercedes, BMW Development Alliance
  • 14 hours Wonders of US Shale: US Shale Benefits: The U.S. leads global petroleum and natural gas production with record growth in 2018
  • 1 day Long Range Attack On Saudi Oil Field Ends War On Yemen
  • 9 hours Recession Jitters Are Rising. Is There Reason To Worry?
Alt Text

A Turning Point For U.S. Power Generation

Renewable energy has reached a…

Alt Text

A Booming Niche In Energy’s Hottest Market

The battery recycling market is…

Alt Text

The Biggest Hurdle In The Race To 100% Renewable Energy

Though tremendous progress has been…

Charlotte Dudley

Charlotte Dudley

Charlotte is a writer for Environmental Finance.Environmental Finance is the leading global publication covering the ever-increasing impact of environmental issues on the lending, insurance, investment…

More Info

Premium Content

Growing Trouble in Europe’s Renewable Sector

Uncertainty about government support for Europe’s renewable sector has deepened, with France suspending feed-in tariffs for new solar photovoltaic (PV) installations and Spain slashing subsidies for wind and solar thermal projects.

A draft decree announced by the French government last Thursday seeks to impose a four-month suspension on feed-in tariffs for new solar PV installations of more than 3kW capacity, in a bid to prevent what the French prime minister called a “veritable speculative bubble”.

French industry groups have hit out at the proposal, describing a four-month tariff moratorium to local press as “unbearable” and “absurd”.

Boris Martor, a Paris-based partner in Eversheds’ clean energy practice, said the development is a “big surprise” and will increase uncertainty in the market.

“The moratorium will have a bad impact in terms of general financing of projects, and it’s quite worrying because this kind of measure is quite unpredictable and doesn’t add a lot of security to the structuring of projects,” he added.

Meanwhile, on Friday, the Spanish government approved a 35% cut to incentives until 2013 for wind projects covered by the 2007 subsidy regime – estimated by industry groups at around 25% of the market – and removed support for solar thermal projects in the first year of operation. The ruling, which is in line with proposals put forward in July, also limits the number of hours wind and thermal facilities can be eligible for government support.

The revision  – which comes after Spain approved cuts of up to 45% to the country’s solar PV industry, last month – are not expected to have a significant impact on industry.

Protermo Solar, a Spanish solar thermal industry association, said it is “reasonably satisfied” with the approved changes to the solar thermal sector. A spokeswoman for Spain’s wind industry group, Asociación Empresarial Eólica, welcomed the ruling on wind installations, saying it will bring certainty and stability back to the market.

John-Marc Bunce, a London-based clean-tech analyst with Nomura Code, said the incentive cuts to Spain’s wind sector will likely have “knock on effects”, but added that “a lot of that risk has been factored into these guys’ business models”.

Against this backdrop of subsidy uncertainty, a group of Spanish researchers and wind companies, including Iberdrola and Gamesa, have announced plans to build a 15MW offshore wind turbine. The €25 million monster turbine is not expected to be ready for market until 2020.

By. Charlotte Dudley

Source: Environmental Finance




Download The Free Oilprice App Today

Back to homepage


Leave a comment
  • Anonymous on December 14 2010 said:
    Households and industry require reliable,safe energy. Wind and solar are unreliable, which makes them unsafe to society as a whole.European governments, and the EU in particular, are ideologically bound and far remote from real world constraints. Nevertheless, when their economies cascade like falling dominoes as a result of governmental and bureaucratic stupidity, some rearrangements will be made.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play