Pulitzer winning climate news.
facebook twitter subscribe
view counter

Tweets

ICNfreesubscription

KeystoneBeyondPreviewBlock

Donate to InsideClimate News through our secure page on Network for Good.

EagleFordProjectPreviewBlock

BloombergLegacyPreviewBlock

CleanBreakAdAmazon

Foreign Clean-Energy Investors Set to Sue Spain Over Energy Reform

Feb 15, 2013
Source: 
(Reuters)

Foreign investors in renewable energy projects in Spain have hired lawyers to prepare potential international legal action against the Spanish government over new rules they say break their contracts.

It is unclear how much claims might be worth, but international funds have more than 13 billion euros ($17 billion) of renewable energy assets in Spain and say that the government has reneged on the terms of their investment.

The Spanish Parliament approved a law on Thursday that cuts subsidies for alternative energy technologies, backtracking on its push for green power.