Spain presents an interesting paradox in the history of PPP (Public-Private Partnerships). Successive governments have seized on PPPs as a solution to budget constraints at a time of dwindling EU aid and stricter fiscal targets, making it one of Europe´s most enthusiastic users of PPP since 2003. Undoubtedly, this trend will bring benefits in terms of more abundant, lower-cost and higher-quality services. However, there are risks implicit in the way PPP is unfolding in Spain that could limit and even undo these benefits unless steps are taken to coordinate, monitor and follow up public-private projects and to communicate their virtues to the public.