Pursuits
Solar’s 80% Plunge Hurts Utilities From Hawaii to Spain: Energy
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On grassy pasture in western Spain, Fotowatio SL is preparing to build a solar plant to supply electricity 25 percent cheaper than a local utility charges for traditional power, a breakthrough that’s sending tremors through the global energy industry.
The Spanish developer, which was funded by General Electric Co., learned how to squeeze construction costs setting up 21 photovoltaic plants in southern Europe during the last six years. By October, its newest unit will begin beating the rate small businesses and homes pay for the first time in Spain.