Loan Programs Office:
September 28, 2011
DOE Finalizes $737 Million Loan Guarantee to Tonopah Solar Energy for Nevada Project
Solar power facility to generate clean, renewable power and fund 645 direct jobs
Washington D.C. — U.S. Energy Secretary Steven Chu today announced the Department finalized a $737 million loan guarantee to Tonopah Solar Energy, LLC to develop the Crescent Dunes Solar Energy Project. The solar project, sponsored by SolarReserve, LLC, is a 110 megawatt concentrating solar power tower generating facility with molten salt as the primary heat transfer and storage medium.
It will be the first of its kind in the United States and the tallest molten salt tower in the world. Located 14 miles northwest of Tonopah, NEVADA on land leased from the Bureau of Land Management, the company anticipates the facility will fund 600 (temporary) construction jobs and 45 permanent jobs. The Crescent Dunes Solar Energy facility is expected to avoid nearly 290,000 metric tons of carbon dioxide annually and produce enough electricity to power over 43,000 homes.
“If we want to be a player in the global clean energy race, we must continue to invest in innovative technologies that enable commercial-scale deployment of clean, renewable power like solar,” said Secretary Chu. “Solar generation facilities, like the Crescent Dunes Solar Energy Project, help supply energy to local utilities and create hundreds of good, American clean energy jobs.”...
https://lpo.energy.gov/?p=5246
Monkey see - Monkey do. Don’t they know why Spain went broke? Leasing...from what I’ve gathered they’re getting this public land for 30 yrs - didn’t read anywhere we’d get money.
I remember some of the players - United Technologies is a partner, Clintonite Jamie Gorlick on the board, another United Tech individual is a DOE advisor. Ron Pelosi (Nancy’s bro-in-law - Pacific Group (a scandal there a few months ago), CALPERS Clean Energy and Technology Fund (pension money - ?union involvement), Argonaut Private Equity aka George Kaiser, etc. Europe, China, ME, are around out tax dollars like pigs in a trough. I have some stuff on solar reserve, will post, time permitting.
US Renewables Group
Lee Bailey
Chairman of the Board
Managing Director
Mr. Bailey is a founder and Managing Director of US Renewables Group (“USRG”)...prior to founding USRG, Mr. Bailey was a partner with Rustic Canyon Partners...
General Counsel for Energy Conversion Devices, Inc. (“ECD”) (NASDAQ:”ener”) a publicly traded renewable energy development company...
Founding director of the US Israel Fund, a $60 million joint US/Israeli government fund to commercialize technology in the areas of energy, information and biotechnology.
White House Director of International Science and Technology Commercialization initiatives for Russia, Egypt, Jordan, Israel and South Africa.
Founder and CEO of the Rural HEALTH CARE CORPORATION.
JAMES MC DERMOTT
Managing Director
US Renewables Group
Public power banker with Credit Suisse First Boston’s Municipal Finance Group in New York City.
Clients included Southern California Public Power Authority (“SCCPA”), Los Angeles Department of Water and Power (“LADWP”), Washington Public Power Supply System (“WPPSS”) and Salt River Project (“SRP”), Intermountain Power Authority (“IPA”) and several other West Coast municipal utilities.
Founded Stamps.com, Inc. (NASDAQ: “STMP“)
Vincent P. Fandozzi
Managing Director
Head of Citi Holdings Alternative Investments
Citigroup, Inc.
Mr. Fandozzi has been with CITIGROUP for the past 16 years, joining the Investment Bank’s Mergers & Acquisitions group in 1994.
In 2009, Vince took over as Head of all the Alternative and Private Equity activities for Citi Holdings. Prior to this, Vince was GLOBAL HEAD of M&A for all of Citigroup’s corporate M&A activities for three years.
Vince currently serves on the Board of Directors of WNA Inc., MSX Inc., Uplogix Inc., SOLAR RESERVE Inc., Great Point Energy, Socie World Co., MBA Polymers Inc., Wild Bunch SA and Continental Films SAS.
John Breckenridge
GOOD ENERGIES (Solar Reserve Investor – affiliated with SWITZERLAND)
John Breckenridge is the LEADER of the Good Energies North American Development Equity and Infrastructure team.
John’s Good Energies portfolio responsibilities have included board memberships at SAGE Electrochromics, Ice Energy, 3-Tier, SEQUOIA ENERGY, Solarfun Power, and SOLAR RESERVE, ATLANTIC WIND CONNECTION, and Champlin Energy, among others. He joined Good Energies from CCMP CAPITAL ADVISORS (FORMERLY KNOWN AS J.P. Morgan Partners) where he served as Operating Partner and Managing Director in both Tokyo and New York. Portifolios in the USA, Asia and Europe. While at JP Morgan’s he INVESTED in the renewable energy, traditional energy, industrial service, automotive, manufacturing and chemicals sectors, among others. He also provided guidance to western companies expanding into China or other Asian countries.
Prior to joining JP Morgan Partners in Tokyo, John was Chief Operating Officer of Densei Lambda KK, a publicly traded Japanese corporation with 8 factories located around the world and over 4,000 employees. He was also a LEADER of several large divisions of INVENSYS plc (Alistir Jessop from Solar Reserve Management also worked at INVENSYS) and Exide Electronics in the US.
ADDITIONAL RENEWABLE BOARD PARTICIPANTS:
DAVID NAZARIAN
Chief Investment Officer
NIMES CAPITAL (SOLAR RESERVE INVESTOR)
David Nazarian is the Chief Investment Officer of Nazarian Enterprises, and Qualcom Inc.
JASANDRA Nyker
Senior Vice President, Clean Energy and Technology
PACIFIC CORPORATE GROUP ASSET MANAGEMENT (INVESTOR)
Prior to joining PCG AM, Ms. Nyker worked for Booz Allen Hamilton in London. She also worked at LEHMAN BROTHERS along with Leon Black, Silver etc at the time of their demise.
Ryan Smith
Vice President
Credit Suisse (INVESTOR)
Ryan is a Vice President of the Customized Fund Investment Group located in New York. Ryan joined CREDIT SUISSE in 2001. He currently serves on the Board of Directors of RNT and as an Observer to Crystal IS, HelioVolt, SolarReserve and ZeroPoint. Ryan is a founding member of the New York Chapter of the Renewable Energy Business Network (REBN). He serves on the credit committee at the Lower East Side PEOPLE’S FEDERAL CREDIT UNION.
Steve Mitchell
Managing Director
Argonaut Private Equity (Solor Reserve Investor)
Steve Mitchell is Managing Director of ARGONAUT Private Equity, a venture capital and BUYOUT FIRM (KAISER will get Solyndra if they have no buyers) dedicated to financing and growing emerging market leaders. Mr. Mitchell currently sits on the Boards of Directors of: Global Client Solutions, Westec Intelligent Surveillance, Yulex Corporation, SOLYNDRA, Stepstone Group, Southwest United Industries, Green Hills Software, Newmans Valve, and Aspen Aerogels.
More here:
http://www.solar-reserve.com/index.html
Citigroup:
The Citi SUSTAINABLE DEVELOPMENT portfolio includes companies ranging from water desalination project developers, like Stamford, Conn.-based POSEIDON RESOURCES Inc., and new recycling companies, like Richmond, Calif.-based MBA Polymers, to SOLAR RESERVE LLC, a Santa Monica, Calif.-based utility-scale solar energy storage company, and Cambridge, Mass.-based coal-gasification technology developer GREATPOINT ENERGY Inc.
http://www.marketwatch.com/story/citi-sustainable-development-investments-looks-to-spin-out
Emerging Energy Graft: US and SPAIN project pipelines by 2012:
http://gigaom2.files.wordpress.com/2008/01/emergingenergyresearchcsp1.jpg
Tony Lent is never mentioned yet he was a founder of US Renewables Group (“USRG”)...
USRG ASA, LLC (A subsidiary of US Renewable Group)
TONY LENT:
Mr. Tony Lent is the Senior Managing Director at WOLFENSHON & Company, L.L.C. Mr. Lent is also a Managing Director of Critical Resources Management. He is also an Advisor and Member of Investment Committee at SEA CHANGE MANAGEMENT, LLC. Mr. Lent was the Managing Director, President, and CO-FOUNDER at US RENEWABLES GROUP, LLC.
He has also worked as an ADVISOR to the:
National Renewable Energy Lab,
DOE,
EPA,
Duke Energy,
AEP,
AND World Bank’s Prototype Carbon Fund.
Mr. Lent headed up EA’s contribution to the development of the WORLD BANK’S PROTOTYPE CARBON. Prior to EA, he was a Co-Founder and Vice President of EcoTimber International.
http://investing.businessweek.com/research/stocks/private/person.asp?personId=8157390
http://sec.edgar-online.com/asalliances-biofuels-llc/s-1a-securities-registration-statement/2006/11/08/section53.aspx
From post 30:
http://www.brettonwoods.org/index.php/179/Leadership_Staff
http://www.brettonwoods.org/index.php/180/Bretton_Woods_Institutions
http://www.brettonwoods.org/members/#International_Council_Members
Click the first link and you’ll find his boss - Wolfenshon. Click the other links and find the rest. One wonders if the TARP money and the Stimulus money went to the banks in order to provide Guaranteed loans for this energy caper - since we don’t know where the money went one can speculate. The DOE are already out front, in saying, that their records of who got what, are messed up.
And then there’s USRG’s powerful partner United Techologies and their powerful leaders, Jamie Gorelick et al, and their lobbyists (one of which is Steve McBee...). Most are retread Administration and Political workers who have an open door to the DOE. The fix was in and planned for a long time and not only by this administration. One can’t forget that GW Bush started the DOE just as one can’t forget that it was Richard Nixon who started the EPA. The EPA that the Clintonites funded with multi-millions as soon as they hit the WH.
