One of “Cleanface” Harry Reid’s many organized crime ventures, frequently aided and abetted by his sons.
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Reid Announces Major Solar Project in Tonopah
May 19, 2011
Washington, D.C. – Nevada Senator Harry Reid joined U.S. Energy Secretary Steven Chu today to announce the Department of Energy’s conditional commitment for a loan guarantee for the Crescent Dunes Solar Energy Project in Tonopah. This is one of the final steps needed to allow the project to break ground, which will create more than 600 jobs in construction and operations. In addition, more than 4,300 direct and indirect jobs in manufacturing, value-added services and transportation will be induced as a result of the project. Sponsored by SolarReserve, LLC, the Crescent Dunes Solar Energy Project will be the first of its kind in the United States and the tallest molten salt tower in the world.
“Today’s announcement is about one thing: creating good paying clean energy jobs right here in Nevada,” said Senator Reid. “Innovative companies like SolarReserve are helping ensure that Nevada can lead the nation in clean energy production, putting people back to work and pushing America toward energy independence. They deserve all the public and private support we can muster. ”
“Nevada continues to be a leader when it comes to the generation of renewable energy, and this project will not only create hundreds of jobs in the state but will also bring additional clean energy to the region,” said Secretary Chu.
“The DOE conditional loan guarantee commitment is a substantial milestone in the continuing and successful development of the Crescent Dunes Solar Energy Project,” said Kevin Smith, CEO of SolarReserve. “We appreciate the tremendous support from the DOE’s Loan Programs Office, which further validates the importance, effectiveness and deliverability of this leading U.S.-designed clean energy technology. We will continue to advance our plan to start construction this summer to bring Nevada’s electricity customers the benefits of reliable solar power generated without greenhouse gas emissions. This solar technology is a genuine alternative to baseload coal, nuclear or natural gas burning electricity generation facilities.”
https://www.factcheck.org/2011/12/ron-pelosis-connection-to-tonopah-solar-energy/
Ron Pelosi’s Connection to Tonopah Solar Energy
By FactCheck.org
Posted on December 8, 2011 | Corrected on February 2, 2012
Q: Did the Energy Department give a loan to an energy company connected to Nancy Pelosi’s brother-in-law?
A: Yes. The loan was awarded to Tonopah Solar Energy for a project in Nevada. Ron Pelosi was then a board member with a subsidiary of Pacific Corporate Group, an investment partner in Tonopah’s parent company. . .
Shortly after the solar energy company Solyndra filed for bankruptcy — after receiving a $535 million loan from the Department of Energy — we received several emails from readers asking us to look into the claims made in the chain email above. It gets some of the basic facts correct.
It’s true that Tonopah Solar Energy, a subsidiary of SolarReserve, received a $737 million loan from the government to build a new solar facility in Nevada.
It’s also true that the project is expected to create 45 permanent jobs. However, many construction jobs also would be supported. Furthermore, there’s no indication at present that the loan won’t be repaid. So it’s misleading to claim it is costing taxpayers $16 million per job.
And Ron Pelosi, Nancy Pelosi’s brother-in-law, had been the executive director with PCG Asset Management, a subsidiary of PCG, until April 2009. But he was only an “independent director” on the company’s board in September 2011 when the loan guarantee for Tonopah was finalized. As an independent director, Pelosi sat on the board of directors, but did not oversee day-to-day management of the company.
What we can’t say one way or the other is whether the loan the company received from the Energy Department had anything to do with Ron Pelosi, as the email suggests. We spoke to company officials for SolarReserve and PCG, and they denied that Pelosi had any influence on the loan. They also stated to us that Ron Pelosi’s compensation agreement does not allow him to benefit personally from the loan, a statement we are not in a position to confirm or dispute.
Update, Feb. 2, 2012: In a statement to FactCheck.org, Ron Pelosi also said that “the loan the company received had nothing to do with me.” He added that he “knew nothing regarding their proposed or actual transactions,” and “did not speak with any person in connection with their plans.” He said that “those who say I did are attempting to smear Nancy Pelosi and me for their own political purposes.”
Pelosi also provided us with email correspondence between him and David Fann, the former president and CEO of PCG Asset Management, indicating that he was only to receive $25,000 annually as a member of the company’s board of directors.
The Loan
The Department of Energy announced on Sept. 28 that it had “finalized a $737 million loan guarantee to Tonopah Solar Energy LLC to develop the Crescent Dunes Solar Energy Project” in Nevada. The 110 megawatt solar power tower will be the “first of its kind in the United States and the tallest molten salt tower in the world,” according to a press release from the department.
The project, which had the backing of Democratic Senate Majority Leader Harry Reid of Nevada and the state’s former Republican Gov. Jim Gibbons, is expected to generate enough renewable electricity to power up to 75,000 homes at peak hours. . .