Greece Government Decides To Cut The Solar Power Feed-In Tariffs

The Greek government has decided to cut the solar power feed-in tariffs in the course of the general austerity of the photovoltaic feed, reports the Renewable Energy Export Initiative.

In February 2012, a reduction of the feed-in tariff in half-yearly clock to August 2014 is adopted. Now, the digression was to be extended to the year 2019. The amount of the tariff reduction would be calculated as a function of the current asset prices every six months.

Michael Liebreich The Ceo of Bloomberg New Energy Finance

Michael Liebreich The Ceo of Bloomberg New Energy Finance

“The photovoltaic boom in Spain and Italy, favored by unsustainable tariffs, had high extension and thereby result in attractive businesses. Developers, manufacturers and service providers still have many facilities, “said CEO Michael Liebreich BNEF. “These companies have raised a lot of capital and the proceeds would like to invest in new projects.”

“They sell longer-term investors with a lower capital outlay, which, depending on the site are satisfied with returns of between 5 and 15 percent within 20 to 25 years. If the price is right, PV systems can be very attractive for such investors. ”

Bloomberg New Energy Finance(BNEF) explains the huge increase in sales of PV power plants had been favored by the decreased production in European countries. Since there are fewer opportunities to build new PV power plants, utilities and infrastructure would decide to fund the purchase of stationary power plants in operation.

BNEF estimates of 2.8 GW would have a total of 3.9 GW of PV power plants, which were sold in 2011, is located when the business in operation or under construction. The remaining 1.1 GW were approved, the building was not yet begun.

Among the major sales in 2011 were three portfolios of standing in the Italian PV power plants operating by Terna SpA (Rome) with a total of 242 MW rated power and the 550 MW power plant, Desert Sunlight by First Solar Inc. (Tempe, Arizona) in California.

The report estimates that the average selling price in 2011 to 3.6 million euros per megawatt. In 2008, during the height of the Spanish solar market, it was 6.4 million euros per megawatt.

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