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Posted on 08/03/2020 7:11:25 AM PDT by lowbridge
The Department of Energy reached a settlement Thursday to recover $200 million in taxpayer funds from a loan the Obama administration distributed in 2011 to finance a $1 billion solar power plant that was deemed obsolete before it could officially go online.
The settlement between DOE and Tonopah Solar Energy must now be approved by a bankruptcy court, the Las Vegas Review Journal reported.
The DOE provided a $737 million loan to Tonopah in September 2011 for the purposes of financing the $1.1 billion Crescent Dunes Solar Energy Project in Nevada. The agency disbursed funds for the plant in 2011 and 2013 before the project experienced problems requiring improvements, rendering the Crescent Dunes obsolete by 2015, Bloomberg reported in January.
Thursday’s settlement will allow the DOE to recoup a portion of the $424 million Tonopah owes. The plant experienced an outage in 2016, forcing a shutdown lasting from October 2016 to July 2017, the Wall Street Journal Editorial Board reported in January. Another outage occurred in April 2019 and is ongoing.
(Excerpt) Read more at dailycaller.com ...
HOORAY Chief and DOE. Thanks.
Everything the Kenyanesian Usurper did during his usurpation was to hurt this country.
Too bad not ONE of our elected OR appointed would stand for the Constitution.
I bet it wouldn’t take too much effort to uncover the kickbacks if someone wanted to. No one wants to.
Very poorly written but
Looks like they only ripped us off for $225,000,000
Does Obama have to refund the kickback he got under the table? What’s the going rate of kickback on a scheme of that size? And how much was kicked back from the Solyndra ruse?
That must be that salt power plant north of the town.
Could see that thing glow for MILES.
So much for solar energy as a reliable source.
Thank you, Mr President! I can’t believe how much this man has accomplished so far...it is easy to forget the way the world was when he came into office. It was a disaster domestically and internationally.
factcheck.com
Nancy’s BIL Ron Pelosi’s Connection to Tonopah Solar Energy——December 8, 2011
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.
So, the DOE shells out 424 million bucks under Obama and now will claw back pennies on the dollar. Whereas the commies to whom they laundered the money, get to keep hundreds of millions.
When will there be an investigation into the finances? What political donations did this “company” make?
Do you think Harry Reid had anything to do with this?
Click The Pic
The Obamas and Clintons should be hounded by investigations into their grifts and money launderings until they die.
Is this even Solyndra or was that other billions kicked back to Obama pals?
“Dingy” Harry Reid was part and particle of that scam!
Wonder if some of his fortune will be clawed back?
And, IIRC, wasn’t there a set-to about federal land and cattle grazing rights when this “deal” was in the works?
This warms my heart. How many times have we said : “Get the money back”!
He did !
bttt
I will bet an ice cream bar that Dirty Harry Reid & his family are also involved in all of this..
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