ALL MARKETS
Change the country
   News    Agenda 
  Go to the home page
Search:   in   
 Tips and General information

  News 


12/3/08 | VMT

Wind power contributes twice as much to Spanish GDP as it receives in subsidies


Wind power companies yesterday were able to boast of their contribution to the Spanish economy in terms of GDP, trade balance and employment.

 

In 2007 wind power contributed €1,993 million to Spanish GDP, 16% more than the previous year, representing 0.21% of national wealth. According to a report produced by Deloitte for the Spanish Wind Energy Association (AAE), this is more than twice the amount (€950 million) the industry received last year in premiums (subsidies). The premiums are intended to compensate wind farms for their higher costs compared to conventional fossil fuel technologies.

 

AEE chairman José Donoso also claimed that wind energy may play a "Keynesian role" and become "one of Spain's most important industries".

 

Other notable statistics from the study include the €167 million contribution to government revenue, the €2,550 million in exports and the €947 million trade surplus. Directly and indirectly, the wind energy industry employs 37,730 people. Each euro it generates contributes another €0.69 to other economic activities.

 

Spain ended 2007 with 15,145 megawatts (MW) of installed capacity (1,400 MW in Andalusia), making it the world's third largest wind power producer, behind Germany and the United States.

 

 Back 

 About Us  Contact Us  Legal Warning