ROME (Reuters) - Italy’s Constitutional court Wednesday rejected on an appeal by four solar energy companies against a law that retroactively changed the structure of state incentives to the renewable energy sector.
The law, approved in 2014 by Prime Minister Matteo Renzi’s government, retroactively increased the number of years over which the incentives granted to solar plants with a capacity of more than 200 kilowatts were spread out.
Many companies in the industry appealed to Italy’s highest court, challenging the constitutionality of the law and warning it undermined the country’s credibility in attracting solar power investments.
The court said in a statement that the question of legitimacy was groundless.
Assorinnovabili, an association of renewable energy companies, has filed a separate appeal on which the court is yet to rule.
Reporting by Alberto Sisto, writing by Giulia Segreti, editing by Valentina Za