The StreetInsider.com is out with comments from Piper Jaffray analyst Jesse Pichel on the Spain solar cap situation saying that the proposed 500 MW cap for 09 is a positive for the group.  “While we expect final outcome by early October, we believe Spain will not be as weak as expected in ’09, and that this proposal should help improve investor sentiment around Spain.”

Apparently, Pichel can confirm that the Spain Energy Ministry has sent a draft proposal to the State Council and is a modest upside to the consensus of a 300 MW proposal but it still needs to be approved by the Spanish Economic Ministry which could take up to a month.