Are you paying too much to install offshore wind power?

The Spanish newspaper CincoDías interviewed Jose Luis Blanco, CEO of Nordex and President of WindEurope, touching on some of the main topics in the industry and also focusing on the Spanish market.

It’s worth taking a look at the interview, but I’ll highlight a topic that perhaps isn’t discussed as much as others.

What do you think about regional taxation on renewables?

Taxes are paid by the end consumer. The investor has to analyze the profitability of their investment project, and undoubtedly, if there are associated taxes, they will be passed on to the cost and consequently to the price that the end consumer will pay. As an association, we are not in favor of increasing that tax burden on the sector.

When these types of taxes are created, there is a perception (or the message is conveyed) that “the big power companies” pay the taxes, but the reality is that, one way or another, the majority end up being passed on to the consumer.

Sergio Fdez Munguía