Spanish solar power companies that stay on the sidelines of the wave of consolidation that will soon sweep the industry could go out of business, according to a number of executives surveyed by mergermarket.
The managers also said that the new regulatory framework for the sector will lead to the withdrawal of foreign investors and the need for survivors to invest aggressively overseas.
The executives said they did not believe that foreign investors would use the new framework as an excuse to enter the market through acquisitions. Indeed, some of the managers said that foreign investors are leaving Spain and heading for countries such as Greece and Italy instead.
“More than 80% of the companies will have to close,” Blaen Director General Francisco Blasco said, adding that 400,000 jobs would likely be lost in the sector by Christmas...MUCH MORE
Tuesday, September 30, 2008
Spanish solar company glut could lead to business failure, investing abroad seen as solution
From the Financial Times and MergerMarket: