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International Business Times
International Business Times
Business
Valentin BONTEMPS

Windfall Tax Backlash Menaces Spain's Green Energy Sector

'Green' hydrogen is at a relatively early stage of development and requires substantial investment (Credit: AFP)

Spain's left-wing government has infuriated banking and energy giants by wanting to maintain a windfall tax on them, threatening crucial investments for the European country's green energy transition.

The tax entered force for two years in January 2023 to fund measures aimed at protecting consumer purchasing power as inflation spiked following the outbreak of the war in Ukraine.

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