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Government completes collection of 145 million euros from uncompleted renewable projects

| News | Corporate Law and M&A

Ignacio Blanco analyzes the execution of the guarantees of the winners of the renewable auctions that did not connect on December 31, 2019

Everything is already in place at the Ministry for the Ecological Transition to activate the guarantees for the wind and photovoltaic projects from the two auctions in 2017 that failed to arrive on time and connect to the grid on December 31st 2019.

Ignacio Blanco, Andersen's Corporate and Commercial Law Director, states that some of the guarantees for the projects that have not arrived on time will probably be called and will be studied on a case-by-case basis and with a magnifying glass, because if the cause of the delay is because a public administration has delayed any procedure necessary to carry out the project, immediately after executing the guarantee, the promoter can go to court.

In addition, he adds that, the administration seeks to avoid claims of liability from the promoters to whom the guarantees are executed claiming the damages caused by these delays, since practically all the procedures of promotion, in one way or another, are suffering delays because of the administration, in any case.

However, he confirms that, if the execution of guarantees is ordered, it will be a containment measure and will have some impact on the sector if it is finally carried out.

The full article can be read in Invertia.  

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