Spain Ejects Clean-Power Industry

Spanish renewable-energy companies that once got Europe’s biggest subsidies are deserting the nation after the government shut off aid, pushing project developers and equipment-makers to work abroad or perish. Saddled with a budget deficit more than twice the European Union limit and a ballooning gap between income and costs in its power system, Spain halted subsidies for new renewable-energy projects in January. The surprise move by Prime Minister Mariano Rajoy one month after taking office helped pierce investor confidence in stable aid for clean energy across Europe. “They destroyed the Spanish market overnight with the moratorium,” European Wind Energy Association Chief Executive Officer Christian Kjaer said in an interview. “The wider implication of this is that if Spanish politicians can do that, probably most European politicians can do that.”...more 

About this, Hot Air says:

 Environmentalists may argue that our worldwide fossil fuel-based energy infrastructure isn’t sustainable in the long term — even though the evidence for imminent climate-change and peak-oil crises are extremely dodgy, at best — but fiscal insolvency is demonstrably unsustainable in the long term.