According to Jay Gallegos, CEO of Globeleq Mesoamerican Energy and CAMRIS 2015 speaker, abrupt changes in law, regulatory uncertainty and financially insecure utilities add unexpected costs to developing projects in new markets.
“It’s a minefield of risks,”said Gallegos, “that end up occurring as you work on these projects, and many of them cost you.”
Source: http://insidecostarica.com
In an interview with Wind Power Monthly, Gallegos outlined a number of examples of unexpected costs that Globeleq has faced, including fees to unload turbines from ships, taxes leveraged despite government policies that exempt import duties renewable energy materials, and a number of other charges accumulated due to red-tape. Equity investors and debt providers find new markets to be less attractive as a result.
