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George Soros Bails Out Musk With $305 Mil SolarCity Investment
Daily Caller ^ | 9/12/2016 | Chris White

Posted on 09/12/2016 10:12:21 AM PDT by ImJustAnotherOkie

Solar panel producer SolarCity managed to raise $305 million thanks to a massive investment from an equity fund affiliated with billionaire liberal George Soros.

A private investment fund tied to Quantum Strategic Partners Ltd provided the company the bulk of the investment. Soros Fund Management LLC advised the fund.

The deal also includes an 18-year-loan with several other investment groups, the company said Monday in a press release.

Both the loan and the cash infusion came as technology entrepreneur Elon Musk attempts to merge SolarCity and electric vehicle maker Tesla Motors. Musk is the chairman of both companies and owns nearly 20 percent of each company.


TOPICS:
KEYWORDS: soros
How long until Soros has control of Tesla?

Another in a long line of reasons not to own one.

1 posted on 09/12/2016 10:12:21 AM PDT by ImJustAnotherOkie
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To: ImJustAnotherOkie

The State of NY has just completed a $750 million factory for Solar City in Buffalo NY. Crony-capitalism reigns supreme.

But that plant now needs to be filled with manufacturing equipment. I really doubt that Soros’ money will last very long.


2 posted on 09/12/2016 10:15:54 AM PDT by PGR88
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To: PGR88

Soros is counting on a government bailout of the solar industry.


3 posted on 09/12/2016 10:19:15 AM PDT by Fido969 (Maybe I';ve been posting for the last 10 years, and rather than spew cr@p you could look up my posts)
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To: ImJustAnotherOkie

Musk loses my support. I’ll have to get to Mars some other way :^(


4 posted on 09/12/2016 10:20:00 AM PDT by CMB_polarization
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To: PGR88

How do you test solar panels in Buffalo, NY?
What do you have like 25 days of sunshine per year?


5 posted on 09/12/2016 10:23:24 AM PDT by Ramcat (Thank You American Veterans)
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To: ImJustAnotherOkie

More money laundering.


6 posted on 09/12/2016 10:25:58 AM PDT by CincyRichieRich (What about second breakfast?)
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To: All

I always disliked Crony Crapitalist Musk for making his billions off the backs of unwitting American Taxpayers...

But now, he allies with pure evil.

To hades with them both.


7 posted on 09/12/2016 10:29:51 AM PDT by LegendHasIt
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To: Ramcat

Nicknamed; Miami of the North, I think 3rd/per capita for swimming pools, we probably get about 26 days/ year :)


8 posted on 09/12/2016 10:31:47 AM PDT by crosdaddy
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To: ImJustAnotherOkie
Musk is a scam. And Soros is now his partner in it. The .gov money well never drys up.

Ed

9 posted on 09/12/2016 10:32:47 AM PDT by husky ed (FOX NEWS ALERT "Generalissimo Francisco Franco is still dead" THIS HAS BEEN A FOX NEWS ALERT)
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To: ImJustAnotherOkie

Now I’m conflicted. We have Solar City and love it. It has taken my $300 average power bill down to $6 average to PNM and $130 to Solar City. My worst month, July, usually averages about $600 for electricity and this year was $260 total.

In NM having solar power on your home serious appreciates it’s value, especially if they are not visible from the front of the property.


10 posted on 09/12/2016 10:37:12 AM PDT by Crusher138 ("Then conquer we must, for our cause it is just")
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To: Ramcat
What do you have like 25 days of sunshine per year?

The panels will produce current even in indirect sunlight or overcast, though the power out is reduced.

11 posted on 09/12/2016 10:42:47 AM PDT by Magnum44 (I dissent)
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To: Crusher138
In NM solar makes sense, relatively dry and cloudless. Around here in Virginia solar is mainly a scam. The solar electricity produced on hot sunny days in summer is valuable for A/C. It can shave some expensive peaking power from the grid mix. But the rest of the year the solar owners are mooching from other ratepayers. They get paid top dollar (retail price) for power that is less reliable and less useful than wholesale power.

The difference can be pretty large. Solar providers get paid 12 cents for power created away from peak because peak is after sunset in winter. That power is unreliable. In contrast we can buy reliable power, even at peak, for 4 cents. Which is a better deal, power we don't need and is not reliable for 12 cents, or power delivered at peak time, reliably, for 4 cents?

12 posted on 09/12/2016 10:52:42 AM PDT by palmer (turn into nonpaper w no identifying heading and send nonsecure)
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To: ImJustAnotherOkie

Soros, the seditious SOB, belongs in prison.


13 posted on 09/12/2016 11:07:02 AM PDT by WKUHilltopper
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To: ImJustAnotherOkie
"billionaire liberal"

He is a billionaire, but calling him a "liberal," takes the faux definition of "Liberal" to a new level of absurdity.

14 posted on 09/12/2016 11:07:24 AM PDT by Ohioan
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To: Crusher138

There are huge subsidies for solar from taxpayers and the other electric customers.

That will end some day and you may find the contract terms lock you into a bad deal then.

But that day may be a very long way away.
Get it while you can.


15 posted on 09/12/2016 11:13:55 AM PDT by mrsmith (Dumb sluts: Lifeblood of the Media, Backbone of the Democrat/RINO Party!)
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To: palmer
In NM solar makes sense, relatively dry and cloudless.

We average 350 sunny days a year. In fact, before New Mexico was The Land of Enchantment, it was The Sunshine State.

16 posted on 09/12/2016 11:14:23 AM PDT by Crusher138 ("Then conquer we must, for our cause it is just")
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To: Crusher138
We average 350 sunny days a year.

That's good because with that kind of average your predictability will be higher. Predictable power is much more valuable than unpredictable power.

17 posted on 09/12/2016 11:24:37 AM PDT by palmer (turn into nonpaper w no identifying heading and send nonsecure)
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To: mrsmith
There are huge subsidies for solar from taxpayers and the other electric customers.

Here in Virginia the ratepayer subsidy is a problem. My provider (nonprofit) has to raise everyone else's rates to accommodate solar providers. But in NM and the rest of the desert SW it is a different story. Predictable solar can be used with a semi-smart grid to lower costs.

18 posted on 09/12/2016 11:26:37 AM PDT by palmer (turn into nonpaper w no identifying heading and send nonsecure)
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To: palmer

It’s very irresponsible of a Virginia utility to have more than a miniscule solar or wind content.
There is no mandate.
Of course a little for public relations reasons is OK.

Even in areas where solar is both reliable and plentiful there is an inherent limit to it’s economic use that is being reached already.
Not sure of the exact numbers but it’s in the 25% to 35% range.
One would think it’s be in 40% to 50% range just looking at hours of sun but there’s more to be considered (which I don’t remember besides capital costs sorry!).


19 posted on 09/12/2016 12:08:07 PM PDT by mrsmith (Dumb sluts: Lifeblood of the Media, Backbone of the Democrat/RINO Party!)
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To: CMB_polarization

When investment = bailout, we’re doomed. As much as I hate Soros, is it reasonable to think he’d give cash to Tesla out of benevolence? Of course not! He’s making an investment.


20 posted on 09/12/2016 7:31:38 PM PDT by dangus
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