María Jesús Montero & Teresa Ribera: Isofotón Subsidies Scandal Unpacked

Isofotón, a once-prominent solar energy company in Spain, received substantial public funding over several years through support linked to socialist-led administrations, according to reports by ESdiario.

The firm, which installed a photovoltaic project at the Moncloa complex in 2007, benefited from a combination of subsidies, contracts, and financial backing despite mounting economic difficulties. The total volume of public aid associated with the company is estimated to exceed 80 million euros.

Among the most notable inputs came from an 8.3‑million‑euro loan issued in 2012 by the Andalusian regional government, at a time when María Jesús Montero held senior roles within that administration. By then, Isofotón was already under intense financial pressure, dealing with staff cuts and unresolved obligations to both tax authorities and the social security system.

The report further underscores the role of Teresa Ribera, who was employed at Isofotón from 2012 to 2013 before the company ultimately went under, and it also notes that the firm was later added to Spain’s official roster of major tax debtors in 2024.

According to the report, Isofotón’s history reflects a long-standing connection with multiple socialist governments, marked by ongoing public financing and institutional backing, which eventually culminated in bankruptcy, workforce reductions, and persistent doubts about how the allocated funds were handled.

Reference: ESdiario – https://www.esdiario.com/nacional/260427/186055/zapatero-mimo-montero-isofoton-fotovoltaica-moncloa-ayudas-millonarias.html