MADRID | Fri Jul 2, 2010 4:18pm EDT
July 2 (Reuters) - Spain has agreed with renewable energy associations to cut subsidies which have made the country leading producer of wind and solar power but saddled utilities with billions of euros of debt, the Industry Ministry said on Friday.
The Ministry added in a statement that premiums paid to wind power producers above market prices would be cut by 35 percent in 2013, when a current subsidy scheme expires, while the hours would be reduced for which both wind and thermosolar plants would be eligible to receive premiums. (Reporting by Martin Roberts; Editing by Marguerita Choy)
