The Network of Dominant Owners of Wind Development in Galicia (Spain) (1995–2017): An Approach Using Power Structure Analysis

Rosa María Regueiro-Ferreira and Xoán R. Doldán-García
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Rosa María Regueiro-Ferreira: Department of Applied Economy, Faculty of Economics, University of Santiago de Compostela, 15782 Santiago de Compostela, Spain
Xoán R. Doldán-García: Department of Applied Economy, Faculty of Economics, University of Santiago de Compostela, 15782 Santiago de Compostela, Spain

Energies, 2020, vol. 13, issue 22, 1-21

Abstract: This article identifies and characterizes the network of dominant businesses which owned wind farms in Galicia (Spain) from 1995 to 2017. This research contributes to reduce the research gap about identifying the investment groups involved and to appreciate the real size of the wind sector. The novelty of the research lies in identifying the network of real owners of wind farms through the application of Domhoff’s power structure analysis, normally used in the analysis of the power structure of corporations and political institutions. With this method, it is possible to observe how the individual wind farm companies are assessed as well as the matrix company, and/or the principal shareholders to which the farm belongs are identified. The article shows that the installed wind power in Galicia is owned by large energy firms with the participation of international investment funds as well, even though the smaller number of local companies in the sector were given favored status under the existing regulations. This study concludes that although there is no single worldwide model for wind promotion, a network of dominant owners has been formed, and that this network consists of energy companies, investment funds, financial institutions, and construction firms. It can be surmised that if the capital were of mostly Galician origin, this would facilitate a bigger reinvestment of the profits in the region.

Keywords: Galicia; wind energy; wind farm owning company; shareholders; dominant owners (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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