RENEWABLE ENERGY : SPAIN MUST AVOID DISRUPTING MARKET, SAYS OETTINGER.

The new slashes to subsidies for renewable energy that the Spanish government is poised to make risk causing bankruptcy in the entire renewable energy industry. Such was the warning issued by a group of 13 international investors - including HgCapital, Impax Asset Management and KKR - in a letter sent to the Commissioner for Energy, Gunther Oettinger, and to Spanish and British Prime Ministers Mariano Rajoy and David Cameron.

The investors claim that this new measure not only risks causing the bankruptcy of the sector, but would also send the wrong signal to foreign investors. In the letter addressed to Rajoy, the investors state that they reserve the right to bring proceedings against Spain, both under EU and Spanish law, and under the Energy Charter Treaty, which protects foreign investors.

The...