Wednesday, June 16, 2010

"Spain 30% Subsidy Cuts for Existing Solar Plants" and Cowen's Stone Comments (FSLR)

UPDATE: "Spain Will Back Down on Solar Cuts, Fotowatio Says" (FSLR)"
Original post:
FSLR is up another $2.22 at $119.49.
First up, Reuters Africa:
* Lobby says Spain wants 30 pct cut for operating plants
* Wants to cut subsidies for future plants by 25-45 pct
* Industry lobby says cuts would mortally wound sector

(Adds detail on timings of cuts, further comment)
By Jonathan Gleave
MADRID, June 16 (Reuters) - The Spanish government is proposing sharp cuts in subsidies for solar plants, which could hurt both domestic and international solar companies operating in the country, industry lobbyists said on Wednesday.

Spain wants to cut existing solar panel plants' subsidies by 30 percent and future ones by 45 percent for big floor-mounted units and 25 percent for smaller roof mounted ones, Spanish solar power lobby ASIF spokesman Tomas Diaz said.

"This (proposal) would destroy the government's renewables-friendly policy and kill us all off," Diaz said after solar lobby groups met with Spain's Secretary of State for Energy Pedro Marin.
"We don't think the sector can survive if it accepts these proposals," Diaz said....MORE
From SmallCapPulse:

Stone Says Reaction to Spain’s Solar Subsidy Cut is Overdone
 Cowen’s Rob Stone weighed in on pending cuts to Spanish solar subsidies, and the negative reaction from the Street to the perceived impact on solar companies’ performance. Stone says this is all ‘much ado about nothing.’ 
 
Key Takeaways
·          “Spain has not been a factor for global installation growth since 2008, and our sources tell us that projects in Spain have been at a standstill since the notion of retroactive FIT cuts was floated by the government earlier this year.”
...MORE

Finally, Bloomberg is reporting a proposal to cut subsidies for future plants by 45%:
Spain May Cut Income 30% for Operating Solar Plants (Update1)

Here are the first 13 of the world's fifty largest photovoltaic solar power plants, from PVResources:

Power
Location
Description
Constructed
MWh/GHG
Picture
60 MW
es Spain,
Olmedilla
(Castilla-La Mancha)

Picture courtesy:
Suravia S.A.,
fotografia aerea
Parque Fotovoltaico Olmedilla de Alarcón

GM

2008
85 GWh
Huerta Solar Olmedilla de Alarcon, Spain, courtesy Suravia S.A.
54 MW
de Germany,
Straßkirchen

Picture courtesy:
Q-Cells International
Solarpark Straßkirchen

GM

Q-Cells International

2009
57 GWh
Solarpark Strasskirchen, Germany, courtesy Q-Cells International
53 MW
de Germany,
Turnow-Preilack

Picture courtesy:
juwi
Solarpark Lieberose

GM

juwi

2009
 
Solarpark Lieberose, Germany, courtesy juwi
50 MW
es Spain,
Puertollano
(Castila-La Mancha)

Picture courtesy:
SkyFotoFactory
fotografia aerea
Parque Fotovoltaico Puertollano

GM

2008
 
Parque Solar Puertollano, Spain, courtesy Suravia S.A.
46 MW
pt Portugal,
Moura
(Alentejo)

Picture courtesy:
ACCIONA Energia
Moura photovoltaic power plant

GM, TRAC

ACCIONA Energia

2008
 
Planta Solar Moura, Portugal, courtesy ACCIONA Energia
45 MW
de Germany,
Köthen
Solarpark Köthen

GM

RGE Energy

2010
to be completed soon
   
42 MW
de Germany,
Finsterwalde

Picture courtesy:
Q-Cells International
Solarpark Finsterwalde

GM

Q-Cells International

2009
 
Solarpark Finsterwalde, Germany, courtesy Q-Cells International
40 MW
de Germany,
Brandis

Picture courtesy:
juwi
Solarpark Waldpolenz

GM

juwi

2007
2008
 
Solarpark "Waldpolenz", Germany, courtesy juwi
34.5 MW
es Spain,
Trujillo
(Cáceres)

Picture courtesy:
Suravia S.A.,
fotografia aerea
Planta Solar La Magascona & La Magasquila

GM, TRAC

2008
 
Huerta Solar Trujillo, Spain, courtesy Suravia S.A.
34 MW
es Spain,
Arnedo
(La Rioja)

Picture courtesy:
SkyFotoFactory
fotografia aerea
Planta Solar Arnedo

GM

T-Solar

2008
 
Planta solar Arnedo, Spain, courtesy SkyFotoFactory
31.8 MW
es Spain,
Dulcinea
(Cuenca)
Planta Solar Dulcinea

GM

2009
   
30 MW
es Spain,
Merida
(Extremadura)

Picture courtesy:
Suravia S.A.,
fotografia aerea
Parque Solar "SPEX" Merida/Don Alvaro

GM, TRAC

Deutsche Bank AG
ecoEnergías del Guadiana
Solarparc AG
SolarWorld AG
September 2008
 
Huerta Solar Merida, Spain, courtesy Suravia S.A.
26 MW
es Spain,
Fuente Álamo
(Murcia)

Picture courtesy:
Suravia S.A.,
fotografia aerea
Planta solar Fuente Álamo

GM

2008
44 GW