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Planta de gas renovable Naturgy en vertedero Elena Cerdanyola del Vallès 1

Spanish economy 11th June 2021

Circular Economy: Naturgy Injects Landfill Gas Into Spanish Distribution Network

This week Naturgy has become the first company to inject renewable landfill gas into Spain’s gas distribution network. The renewable gas plant, located in Parc de l’Alba in Cerdanyola del Vallés (Barcelona) next to the Elena waste dump, represented an investment of 2.2 million euros. The plant will produce 12 GWh/year of biomethane, equivalent to the annual consumption of 3,200 households. In addition, it will prevent the emission of 2,400…

renewables toreras

Spanish economy 11th June 2021

The European Commission Plans To Raise The Renewables Target To 40%; Spain Is Already Meeting It

Renta4 | The European Commission is preparing a legislative package (12 proposals) for July, which includes the revision of the Renewables and Energy Efficiency directives, and through which it plans to raise the renewables target to 40% by 2030, compared to the current 32%. Renta4’s analysis team’s opinion: The increase in Renewables and Energy Efficiency targets to 2030 could be good news for those countries whose targets are below that…

Spain seizes good moment in risk premium to issue 10 year syndicated bond

Spanish economy 10th June 2021

Brussels Gives Spain Two Months To Cut Late Payments By The Public Sector, Which Owes Over 80 Billion Euros To Suppliers

Yesterday, Wednesday, the European Commission gave Spain a two-month ultimatum to reduce the “excessive” delays in payments by autonomous communities and municipalities to their private sector suppliers to avoid the matter ending up in the EU Court of Justice. Spain’s public administrations owed their suppliers over 83.35 billion euros at end-2020, according to data from the Bank of Spain. The debt – which is equivalent to the transfers Spain expects…

Inditex results

Spanish economy 10th June 2021

Inditex, With €7 billion In Cash, To Resume Dividend (€0.7 Per Share)

Inditex earned 421 million euros in the first quarter of its fiscal year (1 February to 30 April) compared to a loss of 409 million euros a year earlier. The company’s sales were 4.942 billion euros, up 50% from 3.303 billion euros in the first quarter of 2020. Online sales at constant exchange rates grew by 67%. Key figures compared to Bloomberg consensus: Sales €4.942bn (+49.6%) vs €4.880bn (+47.7%) expected….

Acciona

Spanish economy 9th June 2021

Acciona Energia Starts Marketing Its IPO

The CNMV has approved the prospectus for the partial placement of Acciona Energia. The placement syndicate starts marketing the IPO this week. The transaction is aimed at institutional investors. The Spanish multinational expects to place around 25% of capital (30% if the green shoe is added). Acciona will significantly reduce corporate debt after the capitalisation of intra-group loans. Acciona Energía is born with an installed capacity of 11,000 MW and…

Tourism

Spanish economy 8th June 2021

Summer Of The New Normal Will Create More Than 438,500 Jobs, At 2015 Levels

Randstad Research forecasts that the summer campaign will generate 438,550 contracts in Spain, 20.7% more than last year, although still 29.5% below the amount clocked up in 2019. The figure predicted for this year’s summer campaign is on a par with that of 2015, when 437,873 contracts were signed. When the historical series is analysed, it can be seen that, since 2012, the volume of summer contracts has not stopped growing.

stock markets 777x400 1

Spanish economy 7th June 2021

The Government, Good Governance And The Indra Case

Fernando González Urbaneja | The government’s contempt for the forms and procedures it imposes on other market players is insulting. And what is the CNMV doing?
The government, the Moncloa, has imposed a change in the chairmanship of INDRA, a listed company in which the state controls 19%, without explanation or justification…

obras 11 1000x528 777x400 1

Spanish economy 7th June 2021

Public Works Tenders In Spain Could Rebound 41% This Year To 2010 Levels

Seopan, the employers’ association of large construction companies and infrastructure concessionaires, estimates that public construction tenders in Spain will grow by 41.5% in 2021 to 20.17 billion euros, which would mean almost 6 billion euros more than a year earlier and recover the levels of 2010.Moreover, taking into account the current pace, it calculates that awarding could close the year with an increase of 12.4% to 7.9 billion euros, which would mean 877 million euros more than in 2020 and return to 2011 values.

pedro sanchez reflexiona

Spanish Politics 4th June 2021

1,111 Days Of The Sánchez Government

On the rights and freedoms of all Spaniards, on whether or not they can leave their homes, until what time, with how many people… On all of this, let the Supreme Court decide. On the 12 prisoners of the ‘procés’ who, from prison, support the Government, on whether they enter or leave, how and when… The Supreme Court can say mass, and the Government, in other words Sánchez, will decide.

Araceli

Spanish Politics 4th June 2021

Spain: A Confused And Weak Health Policy

Fernando González Urbaneja | The Sánchez government has given changing, confusing, changing and poorly explained responses, always tinged with a colossal self-esteem summed up in the boast that others are watching us and copying us… we are among the best… However, objective data and international statistics do not support this belief; on the contrary, Spanish performance is among the least fortunate.