On February 9 2021, AtZ Investment Partners participated in the Spanish Renewable Association (APPA Renewables) webinar about \”Lessons learned from Renewable Auctions: analysis of results and implications\”. Our managing partner Juan Carlos Badillo talked about the impact on the equity returns and financing of the first Spanish auction in 2021. The webinar was in Spanish. The picture below shows how the impact of changing market and financing over a reference case.