Spain’s Constitutional Court has rejected an appeal by the Spanish region of Murcia against retroactive cuts on the use of solar power, according to a release from the Spanish Government.
Spain-based renewables firm Abengoa began insolvency proceedings yesterday after Gonvarri, an arm of industrial group Gestamp, decided against a plan to invest around EUR350 million (US$371 million) into the company.
The Spanish government has announced a series of cuts to renewable energy subsidies totalling €2.7 billion (US$3.5 billion) as part of widespread reforms to its energy policy.
