Spain Renewables Report - Business Monitor International - Industry Reports

Spain Renewables Report

Spain Renewables Report - Business Monitor International - Industry Reports
Spain Renewables Report
Published Jun 11, 2016
45 pages — Published Jun 11, 2016
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� Business Monitor International Ltd Page -- remain cautious until the political landscape stabilises and long-term policies are in place to provide more regulatory clarity. Despite having received the most votes, PP failed to form any workable coalition after the first election. ...These reforms have eroded investor confidence in the Spanish renewables market - exemplified by the fact that no new wind power capacity was added in the country over ----. Given that the PP will not be able to singlehandedly orchestrate energy policy in a grand coalition government, we expect the opposition party s aim to revive a dormant renewables segment to gain traction. This highlights a significant upside risk to our muted non-hydropower renewables capacity forecast, which sees growth averaging -.- per annum over the next decade. ...This is due to Podemos robust support for strong government spending in the renewables sector - which would make this coalition s energy agenda more ambitious. That said, centrist Citizens, in particular, would take a more financially prudent approach, watering down Podemos bullish renewables aims (which includes spending -.- of GDP on the sector over a ---year timeframe).

...Spain is set to embark on a second general election in June ----, after no workable coalition was established in the December ---- election. Our Country Risk team believes that a third election will be politically unpalatable, but that the parties nonetheless will be likely to negotiate over months before a workable coalition can be established. ...Abengoa, Spain s largest renewable energy company initiated insolvency proceedings in late November ----. While the outlook for Abengoa has been precarious for a number of years - owing to its significant debt pile, the highly leveraged nature of the company and domestic energy sector woes - the company could now be heading towards bankruptcy. We stress the Spanish banking sector remains exposed to Abengoa s troubles - with the three Spanish banks Santander, CaixaBank and Banco de Sabadell reportedly holding the largest debt shares, which in Santander s case amounts to EUR-.-bn. We expect Abengoa s economic troubles to warrant greater caution on behalf of Spanish banks funding renewables companies over the next years. Spain s renewable energy industry is one of the most developed in Europe and total installed renewables capacity is nearly --.- gigawatts (GW, BMI ---- estimate) - the third highest in Western Europe after

...The outcome of Spain s first capacity auction was announced in January ----. ---MW of wind were awarded to project developers that have committed to deploy their projects without any subsidy support. ...

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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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Business Monitor International - Industry Reports. "Spain Renewables Report" Jun 11, 2016. Alacra Store. Oct 26, 2016. <>
Business Monitor International - Industry Reports. (2016). Spain Renewables Report Jun 11, 2016. New York, NY: Alacra Store. Retrieved Oct 26, 2016 from <>
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