Private sector picks up bill for green energy plan

26th August 2005, Comments 0 comments

26 August 2005, MADRID — The private sector is to finance the bulk of the Spanish government's plans to make the country cut its reliance on traditional fuels and increase production of reusable energy.

26 August 2005

MADRID — The private sector is to finance the bulk of the Spanish government's plans to make the country cut its reliance on traditional fuels and increase production of reusable energy.

Seventy-seven percent of the cost of the government's Reusable Energy Plan, between 2005-10, will be paid by private companies involved – an estimated EUR 18 billion.

The companies involved in making this programme a reality by carrying out construction and technological work will also pay 20 percent of the total costs – or EUR 4.7bn.

The Spanish government is to offer public help of EUR 680m – just 2.9 percent of the total.

But companies will also be offered tax help to invest in reusable energy.

The Socialist government wants to wean the country off its dependency on crude oil and carbon fuels and to increase the use of solar, wind and water energy.

The plan aims to raise the proportion of energy from reusable sources to 12.1 percent by 2010.

But both Greenpeace and Ecologists in Action have criticised the plan as "insufficient" and "unambitious", though they do acknowledge that the government's objectives have improved.

[Copyright EFE with Expatica]

Subject: Spanish news

 

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