Banco Sabadell: European lawmakers have voted to increase Europe’s renewable energy mix target for 2030 to 42.5% from 30%. The agreement was reached after concessions were made to France and some European countries over nuclear power. The law incorporates that national authorities should only allow up to two years to approve renewable projects, considering them to be in the public interest and simplifying administrative procedures. Assessment: Although the news is...

Banco Sabadell| Among the modifications made by the Government (and announced yesterday) to the law known as the “anti-takeover shield” is the inclusion of energy companies (including renewable generation companies) as strategic companies so that any foreign investor that exceeds 5% market share in a specific technology will have to request authorisation from the Government. Assessment: It is possible that the modification made by the Government may have a certain...

Norbolsa| Iberdrola (IBE) announced a co-investment agreement with NBIM Iberian Reinfra (part of Norges Bank) for the joint development of a portfolio of renewable assets in Spain and Portugal. Iberdrola plans to sell 49% of another 500 MW for €250 million, bringing the joint portfolio of both firms to 1,800 MW, valued at around €1,800 million.

Renta 4 | Repsol to develop 1.7 GW of renewable energy projects in Italy. The project will have 943 MW of generation using wind technology and 825 MW of solar. The total cost is estimated at €500 million. Assessment: Positive impact. Repsol will develop 1.7 Gw of renewable energy in Italy with an estimated investment of €500 million. The portfolio is expected to be operational in 2025. Repsol is thus...

Link Securities | The construction company OHLA has been awarded a contract in the Czech Republic valued at around €100 million to modernise the Brno North thermal power plant, one of the largest renewable energy projects announced this year in the country, Europa Press reported yesterday. The scope of the contract, awarded by the state-owned company Teplárny Brno, consists of modernising part of the plant for the combined production of...

Fernando Rodriguez: Interview with Carlos Delclaux, president of Vidrala and Vocento board member. “The EU has busied itself lecturing the whole world on renewable energies. But a project of this magnitude should have guaranteed supply, and an orderly transition process to ensure that along the way you don’t run out of industry or that citizens don’t suffer ‘energy poverty’… But Europe has grown too fat with contentment. And we are...