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Soria Drafts Plan to Curb Spanish Clean Power Aid, El Mundo Says

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Aug. 23 (Bloomberg) -- Spanish Industry Minister Jose Manuel Soria is preparing a plan to reduce the subsidies for renewable energy producers after the Budget Ministry blocked his proposal to claw back aid through taxes, El Mundo reported.

Soria will draw on a ruling by Spain’s Supreme Court in June to fight possible legal challenges from producers after judges decided that lowering subsidies was justified should the broader economic situation change, the newspaper said, citing people at the ministry without naming them.

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To contact the editor responsible for this story: Ben Sills at bsills@bloomberg.net

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