Assessing the 2014 retroactive regulatory framework applied to the concentrating solar power systems in Spain

Abstract

The RD 413/2014 new economic and regulatory framework applied to the concentrating solar power plants (CSPP) in Spain has been here analysed and its new remuneration scheme has been formulated, becoming evident its high complexity and the great number of regulatory parameters involved. Next, a new model focused on determining its impact on the economic results of the existing CSPP has been proposed. Due to the complexity of the system, a methodology comprising a set of different stages of analysis has been developed. The new model has proven to be a useful tool to analyse the economic impact of the new regulatory scheme on the facilities and to identify its most influential regulatory parameters. One of the most representative facilities has been chosen as a case study to undertake the analysis. The results of the analysis, which have shown a substantial profitability reduction, have been consistent with the appreciations and data provided by the claimants of the last arbitral Award concerning the Kingdom of Spain and investors of CSPP in this country.