Bloomberg: Spain Built Too Much Solar. Investors Want Out

I want to live in a world where this part leads the article:

> For many Spanish consumers, the glut is a blessing, because the price they pay for power is linked to what producers get on the wholesale market. This year their rates have been among the lowest in Europe — about half of what Germans pay.

And the grumblings of speculators are relegated to the second half of the article where I clipped that from.

I guess this is a variation of a pork cycle, but, I expect, with only one cycle because people taking down solar capacity remains less attractive than keeping running it at lower revenues.

https://en.wikipedia.org/wiki/Pork_cycle:

“In short, the pork cycle runs as thus:

- As pork, being a rare good, is a high-priced item, a few farmers decide to start raising pigs. While pig supply is limited, prices remain high.

- More farmers realise the value potential and also begin raising pigs. As more and more piggeries come 'online' and start delivering pigs, the price begins to decrease.

- At some point, demand and supply equalise. Pig farms are still producing pigs and supply begins to outstrip demand. The prices decrease further. Pork becomes a common commodity, and consumers may get bored of pork.

- In view of the decrease in prices, farmers turn away from raising pigs, and go back to more valuable crops or livestock.

- As a result, the pork supply begins to decline, eventually below demand, and then pork goes back to being a high-priced item.

- The cycle begins all over.”

This seems to sum it up: "At least four Spanish projects or companies have been offered for sale, according to people familiar with the matter. Arena Green Power SL and Matrix Renewables have been shopped around, the people say, asking not to be named discussing private processes. Both companies declined to comment. Privately held RIC Sun España SL was on the market, but the company says that’s been shelved as it works to add batteries to its parks."

meanwhile France keeps blocking any proposal to upgrade transmission power between the two countries