MADRID (Thomson Financial) - Abengoa SA unit Abengoa-Solar expects solar panels to be available for every Spanish home within 5-10 years, Santiago Seage, director of strategy for Abengoa and chairman of the solar unit said.

Speaking at a renewable energy conference today, Seage noted that such a goal is already possible, but that the company is continuing to focus on reducing the panels’ surface size and cost.

Spanish-American businessman Juan Verde was even more optimistic with a forecast of 5 years and noted that ‘it is a question of resources.’

‘Traditional energy prices are not accurate because they do not take into account the external costs,’ Seage said, in agreement with other panel speakers Maria Teresa Costa, National Energy Commission chairperson and Juan Verde.

He projected commercial second-generation fuel production for 2012 noting ’second-generation combustible fuels can give us a cost competitive with today’s fuel costs.’

Nevertheless, Costa was downbeat on the possibilities for 100 pct reliance on renewable energies, saying it is ‘difficult’ and highlighted the importance of regulatory stability.

Separately, EDP Energias de Portugal announced that it is planning to extract value from its renewable energy division by preparing a listing for the unit.

tfn.europemadrid@thomson.com

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