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Keyword: govtbacked

Another Gov’t-Backed Clean Energy Co. Touted by Obama Admin Goes Bankrupt

04/02/2012 2:53:49 PM PDT · by Nachum · 14 replies
The Blaze ^ | 4/2/12 | Becket Adams

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 world’s 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 America’s 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...

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