The Council of Ministers approved a decree that seeks to guarantee a minimum profitability of renewable energy facilities affected by the cut that the Popular Party government applied in 2013.
The approved decree foresees linking the remuneration to the profitability of the public debt to ten years and until the year 2031. The facilities prior to 2013 may maintain the current rate of 7,398% and for subsequent ones it will be 7.09%.
It is believed that the new regulations will give stability, predictability to investors and help restore the confidence of those who felt betrayed in 2013 when the premises changed. Investors claim compensation of more than 10.00 million euros from the government of Spain for the retroactive cut that was applied to their remuneration, according to the ministry's data.
As explained by the Minister for the Ecological Transition in operation, more than 64,000 plants were affected by the cut to renewables in 2013, especially in Valencia, Castilla-La Mancha and Andalusia. Source: ccma.cat
In order to benefit from guaranteed returns, investors must renounce the judicial or arbitration proceedings under way and the compensation they have been able to recognize.