Spanish renewable energy to produce 12 pct of electricity in 2010

0 Comments | AFP, August, 2005

MADRID (AFP) — The Spanish government approved a 2005-2010 Renewable Energy Plan that envisages renewable energy sources accounting for 12 percent of total electricity generation in 2010, Deputy Prime Minister and government spokesperson Maria Teresa Fernandez said.

The government expects the plan to involve total investment of 23.6 billion euros (29 billion dollars), of which 77.1 percent was to be covered by power companies, 20 percent by banks, real-estate developers and technology groups, and and 2.9 percent by public aid.

A total of 2.855 billion euros in fiscal deductions for alternative fuels and 4.95 billion euros for the generation of electricity by renewable sources was also planned.

Efforts would be made to increase electrical production from...