Amendments proposed to RDL14/2010, the sequel

 Piet Holtrop, HOLTROP S.L.P. Transaction & Business Law.

After the failed intent of last march 10th, when an amendment to derogate the "Photovoltaic Clauses" of RDL14/2010, we will now see a sequel to this quest.

 

Coming 5-7 July a commission of the Spanish Senate shall vote on approval of an amendment proposal to be sent to the Senate. On the 12-13 July the Senate shall then vote on such amendments, and if approved, on 19-20 July the Spanish Congress shall vote.

What's the content?

The content is controversial in the Sector, because it furthers discrimination and is only a partial band aid. It does not take away the structural flaws of RDL14/2010, and in general would rather be a further legal argument in the battle against RDL14/2010.

The content is, basically:

For installations of <100Kw the cap of 2011 remains unaffected, but the cap of 2012 is increased with 310 Hours, whereas the cap for 2013 is increased with 430 Hours. This provides the small sized segment of the market with some air. This way these installations may at least be able to afford legal defense.

As of 2014, for all installations the reference value for their production will be the maximum average of the years 2009 and 2010. The very imprecise radiation map is substituted for two arbitrary reference years. Although still not objective this would be an improvement.

The official credit line which is offered to installations affected by RDL14/2010 is to allow a period of two years in which only the interest on the capital would be due, thus furhter buffering the effect of RDL14/2010 financially.

UPDATE 06-07-2011: The Spanish Government vetoed the amendments yesterday and therefore RDL14/2010 will stay as it was. Spain is now facing an avalanche of litigation against RDL14/2010. The first cases have already been taking into consideration by the Audiencia Nacional, our Firm will be presenting claims for a growing group of investors. Some of the installations of our clients are affected already by the liquidation of July 2011, we will initiate litigation for those installations within little more than two months from now.

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