Skip to comments.
Another Gov’t-Backed Clean Energy Co. Touted by Obama Admin Goes Bankrupt
The Blaze ^
| 4/2/12
| Becket Adams
Posted on 04/02/2012 2:53:49 PM PDT by Nachum
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 worlds 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 Americas 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 with Solar Trust of America for a couple of years in getting this project going, David Lane, Blythes city manager, said in an interview with Reuters. Although the project is not in the city limits, we are the only city within 100 miles. My sense is that with the large investment in what was to have been the worlds largest solar power plant, someone somewhere will buy it and build it.
The company said it ran short of liquidity after Solar Millennium AG, which holds a 70 percent stake, sought court protection in December, according to Reuters.
(Excerpt) Read more at theblaze.com ...
TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: another; bankrupt; energy; govtbacked; greencorruption; greenenergy; solar; solartrust; solartrustofamerica
Yoda: Unexpected this is.
Not.
1
posted on
04/02/2012 2:54:03 PM PDT
by
Nachum
To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...
2
posted on
04/02/2012 2:55:33 PM PDT
by
Nachum
(The complete Obama list at www.nachumlist.com)
To: Nachum
The company said it ran short of liquidityI always run short of liquidity just before payday. I hate it when that happens.
3
posted on
04/02/2012 3:07:30 PM PDT
by
BfloGuy
(The final outcome of the credit expansion is general impoverishment.)
To: Nachum
4
posted on
04/02/2012 3:07:39 PM PDT
by
A. Morgan
(Ayn Rand: "You can avoid reality, but you cannot avoid the consequences of avoiding reality.")
To: Nachum
5
posted on
04/02/2012 3:09:14 PM PDT
by
ExCTCitizen
(If we stay home in November '12, don't blame 0 for tearing up the CONSTITUTION!!)
To: Nachum
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 projectSimple, Poof/flash, nothing there or missing............Except the money.
6
posted on
04/02/2012 3:17:04 PM PDT
by
The Cajun
(Palin, Free Republic, Mark Levin, Newt......Nuff said.)
To: Nachum
How many failed clean-energy companies is it now.
One for every 57 States?
Tripe!
7
posted on
04/02/2012 3:17:54 PM PDT
by
Gasshog
(going to get what all those libs asked for, but its not what they expected.)
To: Nachum
obozo’s cronies (the mob and other donors) have looted billions from us on this green energy scam
8
posted on
04/02/2012 3:52:56 PM PDT
by
drypowder
To: Nachum
These corporations are money laundering places.
9
posted on
04/02/2012 4:32:20 PM PDT
by
freekitty
(Give me back my conservative vote; then find me a real conservative to vote for)
To: Nachum
100% Clean Green. No footprint, very few fingerprints.
Hey BONEHEAD!!!!! How much longer are we to be ROBBED? Gank his credit card YESTERDAY!!!!
10
posted on
04/02/2012 4:37:33 PM PDT
by
rawcatslyentist
("Behold, I am against you, O arrogant one," Jeremiah 50:31)
To: Nachum
The company said it ran short of liquidity LOL - The only people who will be surprised will be members of the press - who bought this bull - hook, line, and sinker.
11
posted on
04/02/2012 4:47:28 PM PDT
by
GOPJ
(Democrat-Media Complex - buried stories and distorted facts... freeper 'andrew' Breitbart)
To: Nachum
The company said it ran short of liquidityLOL - The only people who will be surprised will be members of the press - who bought this bull - hook, line, and sinker.
12
posted on
04/02/2012 4:48:19 PM PDT
by
GOPJ
(Democrat-Media Complex - buried stories and distorted facts... freeper 'andrew' Breitbart)
FIGHT LIKE A SPARTAN!
13
posted on
04/02/2012 5:04:02 PM PDT
by
RedMDer
(https://support.woundedwarriorproject.org/default.aspx?tsid=93)
To: Nachum
Solar Trust of America LLC
holds the development rights for the worlds 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 Americas Chapter 11 filing on Monday listed assets between $1 million and $10 million, and liabilities between $10 million and $50 million.
Wait. A company with > 2 Billion bucks worth of loan guarantees goes belly-up over < 50 Million bucks of liquidity issues? Is the big $$$ gone or never spent?
14
posted on
04/02/2012 5:16:53 PM PDT
by
Cyber Liberty
(The only flaw is that America doesn't recognize Cyber's omniscience. -- sergeantdave)
To: Nachum
These were all designed to go bankrupt. They took their money and folded. They got what they were designed to get.
15
posted on
04/02/2012 5:37:14 PM PDT
by
Secret Agent Man
(I'd like to tell you, but then I'd have to kill you.)
Disclaimer:
Opinions posted on Free Republic are those of the individual
posters and do not necessarily represent the opinion of Free Republic or its
management. All materials posted herein are protected by copyright law and the
exemption for fair use of copyrighted works.
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson