(Bloomberg) — From Galicia in the north to Andalucia in the south — Spain’s old coal plants are running out of steam. The Iberian nation last year cut use of the dirtiest fossil fuel faster than anyone else in western Europe as renewable energy and cleaner natural gas take over.
The combustible rock, which has kept the region humming through world wars and economic boom times, is increasingly out of favor with lawmakers and executives under pressure to do more to stop global warming.
“We are in a hurry, we have to move fast, everybody has to move fast,’’ Iberdrola SA Chief Executive Officer Ignacio Galan said on Tuesday at the World Economic Forum in Davos. The Spanish utility plans to permanently shut its two remaining coal-fired power stations this year, replacing them with new wind and solar capacity. Continue Reading →