Posted on 04/02/2012 1:37:26 PM PDT by mdittmar
The Oakland-based company has held rights for the 1,000-megawatt Blythe Solar Power Project in the Southern California desert, 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.
(Excerpt) Read more at reuters.com ...
And, another one bites the dust.
I think this is the one based on the design in Spain.
“The pain in Spain is Obama’s claim to fame”
It is unclear how the bankruptcy will affect that project
= = = = = = = = = = = = = = = = = = = = = = = = = = = = =
Any guesses?
Definitely a BOHICA moment.
Wonder what the party affiliation is and how much was donated prior the ‘grant’ and how much will backdoor its way to whence it came?
Time to buy stock in Vaseline* as the taxpayers will be buying it by the carload to ‘ease the BOHICA’ experience.
Meanwhile, the drumbeat of Dictator Baby-Doc Barack continues to grow louder :
-— regulate -— control -— destroy -— Regulate -— control -— destroy -— REgulate -— control -— destroy -— REGulate -— control -— destroy -— REGU
These companies will never be profitable, read: sustainable
How many of these need to go under before the American body politic realizes that they dun been hustled?
Dumb-ass liberals see the awesome industrial might of the United States powered by...
Sunshine, lollypops, and rainbows.
Bump
Another crony capitalism success story for President Food Stamps.
don’t forget, unicorns
This is the list I have compiled (so far) of failed “green” companies:
Abound Solar
Bright Source
Ener1
SunPower
Tesla
Fisker
Beacon
LightSquared
Solyndra
A123
Uni-Solar
Azure Dynamics, Inc
Ecotality, Inc
Solar Trust
This is the list I have compiled (so far) of failed “green” companies:
Abound Solar
Bright Source
Ener1
SunPower
Tesla
Fisker
Beacon
LightSquared
Solyndra
A123
Uni-Solar
Azure Dynamics, Inc
Ecotality, Inc
Solar Trust
LightSquared was never a "green" company - just an Internet company that wanted to use spectrum that was SO close to the GPS system spectrum that it interfered with it ...
Once the FCC proved that this was true - LightSquared's license was denied ...
And, oh yes, LightSquared DID give a pile of cash to the Obama campaign ...
So unlike Solyndra this looks like a loan guarantee. I assume that means SOMEONE ELSE made the actual loan and DOE just guarenteed it - right?
So who are the lucky investors that get their money back - from the taxpayers - for backing this pig?
not everything is rosy in Germany, it seems.. at least when it comes to solar..
—
Solar Millennium files for bankruptcy in collapse of Bay Area firm
By George Avalos
Oakland Tribune
Oakland-based Solar Millennium, Solar Trust of America and a group of affiliates filed for bankruptcy on Monday to reorganize their finances, in another meltdown of a Bay Area solar company.
Solar Millennium is building one of the largest solar projects in the world, a 7,000-acre complex near the Riverside County community of Blythe.
The plants in the Blythe project are capable of delivering 1,000 megawatts of electricity, enough power for 300,000 homes, according to court papers filed on Monday.
The Germany-based owner of the East Bay companies, Solar Millennium A.G., had filed in late December for insolvency in Europe.
They cleaned out the treasury and went to the Bahamas.
Another day in Obamaland. :)
The dimwits who voted for Obummer most be so proud.
“My sense is that with the large investment in what was to have been the world’s largest solar power plant, someone somewhere will buy it and build it.”
Oh, of course, because every venture capitalist dreams of blowing their wad on the next Green Titanic, and this — well, pffft — it’s...BIG, and it’s SOLAR, so it’s just GOTTA fly; it’s just GOTTA! Yeah, and somebody’ll do it just to be able to say “We built the biggest one out there.”
Hey, Mr. Lane; do you know what an albatross is?
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