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Spanish economy

Spain renewables auctions in 2022

Spanish economy 10th January 2022

The First Renewables Auction For 2022 Might Be Held In April For A Total Of 500 MW

Banco Sabadell | The government has launched for public consultation (until 21 January) the proposed resolution for convening a new renewables auction, which is included in the calendar established for the period 2020-2025. It will be held foreseeably in April for a total of 500 Mw distributed between: (i) 200 MW solar thermoelectric; (ii) 140 Mw solar photovoltaic (installations > 5Mw); (iii) 140 Mw biomass; and (iv) 20 Mw other…

ACS

Spanish economy 7th January 2022

ACS sells 100 MW of photovoltaic capacity, for a possible price of €80-90 M

Intermoney | ACS (ACS) (Buy, TP €40) has sold a portfolio of 100 MW of photovoltaic energy capacity to Sonnedix, a holding of renewable assets owned by institutional investors advised by JP Morgan AM, according to the Cinco Dias newspaper. The price of the transaction has not been revealed. The assets are located in Castilla-La Mancha and Extremadura. The two plants, each with 50 MW, were put into operation at the…

ElectricityTC

Spanish economy 7th January 2022

The Rise In Electricity And Gas Prices Will Cost €9 Bn to Spanish Consumers, Says Bank Of America

The financial entity calculates the impact that the current energy price crisis will represent for the main European countries at around 107,000 million euros. Spain is not the country where this shock to the domestic consumer will be the greatest since in theUk will amount to 27,700 million euros, while in Italy it will be 24,500 million euros, in Germany 23,000 million euros and in France 22,100 million euros.

labor market reform

Spanish economy 6th January 2022

The Shortage Of Large Firms In Spain Makes The Spanish Economy Productivity Remain Relatively Low

Oriol Aspachs (Caixabank Research) | There are still few large companies in Spain, especially when compared to the major developed countries. This is undoubtedly one of the main reasons why the productivity of the Spanish economy remains relatively low. In other words, this is one of the main reasons why GDP per capita in Spain, or many Spaniards’ purchasing power, remains far from the benchmark countries. Will COVID succeed where economists have failed?

Repsol

Spanish economy 5th January 2022

Repsol buys shale oil and gas assets from US firm Rockdale Marcellus for $222M

Repsol has bought shale oil and gas assets from US firm Rockdale Marcellus for $222 (200 million euros). This company was born out of holdings which Shell had in the counties of Tioga, Lycoming and Bradford in Pennyslvania in 2017. Repsol already operates a shale field near there. The Spanish oil and gas giant participated in an auction to acquire Rockdale on December 16, following the latter’s adherence to Chapter…

unemployment spain

Spanish economy 5th January 2022

Registered Unemployment Falls Below The Level Before The Financial Crisis

Funcas | The number of people registered with Social Security rose by 72,000 in December, to 19,824,911. In seasonally adjusted terms, according to Funcas, this is equivalent to a rise of 62,000, a remarkable result in historical perspective, although it is the lowest increase since May. The total number of workers in ERTE (linked and not linked to Covid) has moderated its rate of decline, while the self-employed with benefits…

Ebro Foods

Spanish economy 4th January 2022

Ebro Sells Panzani’s Pasta Business For €550 million (9.6x EV/EBITDA)

Intermoney | Ebro Foods (EBRO) closed and executed on Friday December 31 the sale to CVC of Panzani’s dry pasta, couscous, sauces and semolina businesses for €550mn (100% of the business) enterprise value. Included in the sale are the related operating assets: the La Montre, Nanterre, and Vitrolles plants, as well as the Gennevilliers, Littoral and St. Just mills. In 2005, Ebro paid for all Panzani businesses a total of…

Nuclear energy in Spain

Spanish economy 4th January 2022

Spain Opposes, Together With Germany And Austria, The EU Proposal To Gas And Nuclear Energy As Renewable

Renta 4 | The European Union surprised with a new plan that would label some natural gas and nuclear energy projects as “green” investments after a year of debate among the different governments about which investments are really climate-friendly. Specifically, the Brussels text, still in draft form, includes nuclear power plants already in operation and those to be built at least until 2045, as well as gas-fired power plants, which will enjoy the same recognition until 2030.

Spain, Nadia Calviño

Spanish economy 3rd January 2022

Spanish Per Capita Income, At The Level Of 2015

Miguel Navascués | After reaching 22,169 euros at the end of 2019, Spanish per capita income had fallen to 19,429 euros by end-2020, a level very similar to that of 2015 (19,348 euros). Per capita income, or GDP per capita, depends on GDP growth and population growth, obviously. GDP growth depends, as we know, on the productivity growth of all factors, i.e. investment, technology, and the number of employees. Which…

ACS Vinci

Spanish economy 3rd January 2022

ACS Clocks Up Capital Gain Of 2.9 Billion Euros With Industrial Division Sale

Link Securities | ACS and the Vinci Group have signed, with effect from 31 December, the public deed of sale of most of ACS’s Industrial Division agreed on 31 March. Pending is the carve-out in favour of ACS of certain predetermined assets, which will be executed mainly in January and in the following months. ACS received some 4.902 billion euros as consideration. With this price, ACS has obtained a net…