Germany Lowers Subsidies for 'Green' Electricity

Business » ENERGY | June 27, 2014, Friday // 17:07
Bulgaria: Germany Lowers Subsidies for 'Green' Electricity SPD leader Sigmar Gabriel Photo by EPA/BGNES

German Parliament adopted Friday legal changes curtailing subsidies allocated to renewable energy producers.

Bundestag members took the move after an unprecedented threefold increase of state aid for the sector in just four years.

Sigmar Gabriel, leader of the socialist party (SPD) which is the Christian Democrats' partner in the ruling broad coalition, was quoted by daily Bild as assuring Berlin is keeping in sight the 2050 target of a 80-percent share of renewables in the energy mix.

The decision was approved with 454 to 123 votes, with only six MPs choosing to abstain.

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Tags: Bundestag, renewable energy, SPD, Sigmar Gabriel, Germany
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