Greece cuts solar subsidies by 12.5%

Greece cuts solar subsidies by 12.5%

Greece announced cuts in solar subsidies, the Ministry of Energy, Environment and Climate Change said in a statement.

"In today's difficult economic environment, it is necessary to ensure the viability of the financing mechanism in order to secure the operation of the units already installed and to develop new ones," the ministry said in a statement.

The subsidies will be cut 12.5% to €292.08 per megawatt hour for solar coming online from February 2012 and generatin...

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