• More than 400 appeals from companies, with 1.7 billion euros at stake •
Spanish renewable energy companies say they will file suit with Spain’s Constitutional Court in February challenging the government’s move to impose retroactive cuts to subsidies for clean energy co-generation, which they say would cost them as much as 1.7 billion euros each year in lost revenues.
The challenge is being launched following a Supreme Court ruling in December admitting the possibility that reforms made to Spain’s legislation on renewable energy pushed through Congress by the conservative Partido Popular (PP) in 2013 may violate the country’s constitution.
The Supreme Court ruling allowing the challenges to be filed with the Constitutional Court came in the wake of more than 400 appeals to the court by energy companies in Spain, including more than 30 foreign companies.
► Read the Full Story in English at The Olive Press …
► Read the Full Story in Spanish at El Economista …
