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solar panels

Spanish economy 19th June 2023

Iberdrola to build Europe’s largest on-site PV plant for Sabic in Spain with a €60-million investment

Alphavalue/ Divacons| The Spanish utility company has obtained the authorisations to begin construction of the largest on-site solar photovoltaic project for self-consumption in Europe, which it will build for Sabic at the industrial complex in Cartagena. Specifically, the installation, with a capacity of 100 MW, will involve an investment of more than €60 million and the creation of 450 new jobs during the construction period. It will supply renewable energy…

Ence2

Spanish economy 18th June 2023

Ence says it has signed a contract with a major brewery for conversion of thermal processes based on gas, fuel oil or coke

Link Securities| The company’s president, Ignacio Colmenares, has claimed that the company has signed a contract with a major brewery based on the transformation of thermal processes based on gas, fuel oil or coke by a pure electric solution or a mixed solution with biomass depending on the temperature and pressure at which companies need steam. The ENC executive also pointed out that before the end of this month the…

Acciona

Spanish economy 18th June 2023

Acciona and Sacyr chosen by Basque Rail Network to build section of Bilbao underground

Link Securities | A temporary joint venture (UTE in its Spanish initials) in which Acciona and Sacyr participate has been selected by ETS Euskal Trenbide Sarea (Basque Rail Network) to build the second section of Line 5 of the Bilbao Metropolitan Railway between Aperribai and Galdakao, with an extension of 2.8 kilometres, the digital portal CapitalBolsa.com reported yesterday. The works will include the platform and track superstructure of the section,…

PSOE

Spanish Politics 16th June 2023

PSOE lodges complaint against three newspapers for polls they get right

The Spanish Socialist Workers Party (PSOE) presented this Thursday before the Central Electoral Board (JEC) a complaint against ABC, El Mundo and El Español, and the opinion institutes that carry out their electoral polls -GAD3, Sigma2 and Sociométrica, respectively-, a measure that acquires special relevance when it comes to the main party that supports the Government. The Socialists’ number three, Santos Cerdán, demands from the accused, in the light of…

poor

In Spain 16th June 2023

AIReF denounces fact that MVI only reached 35% -284,000 households- of those entitled to it in 2022

The Independent Authority for Fiscal Responsibility (AIReF) has complained this Thursday that the Minimum Vital Income (IMV) approved by the Government has only reached 284,000 households since it was launched, that is, 35% of the 800,000 households that, in its opinion, could benefit from it. This is due, the organisation says, among other things, to the fact that almost 470,000 families entitled to receive this benefit – 58% of the…

CEPSA

Spanish economy 15th June 2023

Cepsa to invest €1 billion to build Europe’s largest green ammonia plant in San Roque

Cepsa will build the largest green ammonia plant in Europe at its San Roque Energy Park (Cadiz), thus accelerating its commitment to green hydrogen with an investment of €1 billion. With an annual production capacity of up to 750,000 tonnes, which could avoid the emission of three million tonnes of CO2, the facility is expected to be operational in 2027. It will also create 3,300 jobs, including direct, indirect and…

NATO's military

Spanish Politics 15th June 2023

Spain to miss NATO meeting with defence industry due to absence of national companies

Spain will boycott a meeting of NATO defence ministers with the defence industry on Thursday in protest at the Alliance’s decision not to invite any of Spain’s leading firms. Minister Margarita Robles, who will be in Brussels for a meeting with her 30 colleagues at NATO headquarters, will be absent from the room when the meeting begins, however, as she is very upset about the selection of companies, the opacity…

Caixabank sede madrid

Spanish economy 15th June 2023

Fitch Ratings maintains CaixaBank’s BBB+ rating and outlook at “stable”

Alphavalue / Divacons| The chairman of the Catalan bank, José Ignacio Goirigolzarri, believes that the balances of credit portfolios in Spain will remain stable or register slight increases over the next three years, as he said during his speech at the conference that Cinco Días is holding to celebrate its 45th anniversary. Meanwhile, the credit rating agency Fitch Ratings decided to maintain unchanged the BBB+ rating assigned to CaixaBank as…

Melia feliz 768x454 1

Spanish economy 14th June 2023

Meliã’s hotel occupancy is highest ever at record 110,000 rooms globally

Link Securities| Gabriel Escarrer, CEO of Meliã International, said the company operates a record 110,000 rooms worldwide, digital portal Bolsamania.com reported yesterday. Meliã’s hotel occupancy is the highest in its history. The company will also add capacity in Vietnam, Italy, Cuba, Seychelles and Montenegro and will start operations in Albania and Tanzania in 2023. Additionally, the hotel chain has raised its bookings to 30% above 2019 and expects margins to…

Spanish Housing Market

Spanish economy 14th June 2023

Bank of Spain warns there are half a million homes practically unsaleable but lack of developable land means prices cannot fall

A study by the Bank of Spain recommends that the government “review the procedures for managing land for development” to try to lower the price of housing in Spain, the high cost of which it attributes to the “mismatch between supply and demand”. The study, “El desajuste entre la oferta y la demanda de vivienda y su relación con los precios“, (“The mismatch between housing supply and demand and its…