Solar thermal plant buoys Spanish investors

From Reuters:

Spain's Industry Minister Miguel Sebastian buoyed hopes in the country's solar power industry on Monday just days after announcing a dramatic cut in subsidies.

Madrid last week announced plans to cut by almost 90 percent its subsidies for solar photovoltaic (PV) power after a stampede for support left Madrid with a multi-billion euro liability.

But the cuts will not apply to solar thermal, a technology that concentrates the sun's light to produce heat and steam which in turn drives turbines, rather than producing electricity directly in silicon PV panels....MORE