In the story of Spanish solar power, the FT finds a country with energy abundance and doesn’t like what it sees. A few choice quotes:
Pedro Sánchez calls his country a ‘global benchmark’ in the transition to greener energy, but prices — and profits — have plunged.
Spain has built so much solar capacity that at certain times of day it produces far more electricity than it needs. Prices have plunged as a result, dragging down owners’ profits with them.
Free power is gratifying for customers, but bad for generators.
Etc, etc. Good for Spain! The monetary matters will settle themselves out.