Why anyone would do this in California of all places, is beyond me. Why not just directly shovel your money to all the levels of government that exist there, to take it from you? The stupid federal grant they got - a huge percentage of that I am certain just got pissed away in CA taxes and regulations.
Tax payers are on the hook for $535 million which was doled out by partisan government bureaucrats to back a company with an unsustainable business model. We need a more rigorous and competitive process in the granting / loan guarantee programs run by the government (which is of course using our hard earned money). There is an alternative. Check out the bill currently in committee in Congress by Rep. Nunes (CA), yes a conservative from CA. I heard him speak this week and it was refreshing to hear his ideas.
From Platts.com
The bill would establish a renewable energy trust fund, which avoids the federal government “picking winners and losers” in technology, Nunes said. Monies from the fund, established through oil drilling lease and royalty revenues, would be distributed using a reverse auction for renewable energy in which projects would bid for federal assistance on a per megawatt basis. The lowest bid wins, regardless of technology, and auction winners would enter into a contract with the federal government to generate a certain amount of energy from renewable sources in a specified time frame.