Free Republic

A California solar energy company that was unable to meet a deadline for an Energy Department loan guarantee last year has sought bankruptcy protection in Delaware. “Solar Trust of America LLC…holds the development rights for the world’s largest solar power project,” Reuters reports, “which last April won $2.1 billion of conditional loan guarantees from the U.S. Department of Energy. It is unclear how the bankruptcy will affect that project [emphasis added].” Solar Trust of America’s Chapter 11 filing on Monday listed assets between $1 million and $10 million, and liabilities between $10 million and $50 million. “We have been working...

Siobhan Hughes discusses plans to build the world's largest solar plant, approved by the U.S. on Monday. Alternative energy companies are racing to start solar projects before federal incentives expire at year's end.

A proposal to build the world's biggest solar-thermal power plant in the Southern California desert got the go-ahead Monday from the Obama administration, which used the announcement to bolster its message that renewable energy creates jobs. The $6 billion project is being developed by Solar Trust of America, a joint venture between Germany's Solar Millennium AG and privately held Ferrostaal AG on 7,025 acres of federally owned land near Blythe, Calif. The approval clears the way for the developers to seek federal grants and loan guarantees.The Obama administration has been criticized over the past year for hurting job creation by...