300 million dollars doesn’t go very far in a power generation project.
#5 Nevada GeothermalEmail,
July 5, 2012
Nevada geothermal company that received $98 million loan guarantee is failing By Rick Moran
The idiocy of these loan guarantees continues to be exposed. Nevada Geothermal Power (NGP) was bleeding money even when the government stepped in with the loan guarantee. And yet, Senator Harry Reid approved of the loan guarantee, saying that Nevada was set to become “the Saudi Arabia of geothermal energy.” Energy Secretary Chu also gave NGP a thumbs up. The problem, is that the company has been in serious financial trouble for years.