Enerside, a Catalan photovoltaic company, has filed for bankruptcy. With less than 6 million in revenue and over 60 million in debt. This is not an isolated case. The bursting of the photovoltaic bubble has plunged the sector, made up of almost a thousand companies of various sizes, into serious financial difficulties. It is estimated that more than 15% of solar plants are at risk of bankruptcy due to their inability to meet debt repayments.
Spain is, after Germany (which has 117 GW installed), the second country in the EU in solar generation, with a capacity of around 55 GW, but the price charged fell from 42 euros per megawatt hour in 2024 to 36 euros in 2025 and to 29 euros/MWh in the first half of 2026, a drop of over 30%.
According to the sector's employers' association, Unef, in 2025 there were 797 hours with prices at zero euros per megawatt/hour. And so far in 2026, they have already accumulated more than 900 hours at zero or negative prices.
Unef, the sector's employers' association, estimates the size of the current "hole" at around 900 million euros for which it has proposed to the Ministry for Ecological Transition a three-year moratorium – during which the ICO would take charge of the loans – while efforts are made to recover the cash flow of the projects.