Rocío Sicre: «A new rate of 11% over the turnover would jeopardize existing wind farms»
Madrid, 12thof July 2012.- «A rate of 11% over the turnover of wind companies like the one the Government is considering could be the final blow for the sector since it jeopardizes the viability of a number of installed wind farms», said Rocio Sicre, Chairman the Spanish Wind Energy Association (AEE). Wind power is already the technology that bears a higher tax burden since, on top of taxes common to other technologies (state and municipal), fees that some regions charge are also to be added.
The Wind power sector profitability is very tight and higher taxation would mean companies will have problems to make their payments. Wind companies have made a strong investment effort in recent years, which has created a high level of indebtedness, and assets are not yet amortized.
€œThe Government has a historic opportunity to propose a long-term sustainable energy model, laying the foundations of a modern Spain, that is energy independent and that attracts investment. Wind energy should occupy an important place in the future, however, the new measures being considered are in the opposite direction. Not betting on wind power today would be a historic mistake», said Sicre.
AEE understands the delicate situation of the Spanish economy and the need for adjustment measures. However, it cautions that the sector is already under a moratorium on new facilities and has no regulatory framework beyond the end of 2012 what threatens the survival of the wind industry in Spain from large manufacturers to smaller suppliers.