After already receiving a controversial $1.6 billion construction loan from U.S. taxpayers, the wealthy investors of a California solar power plant now want a $539 million federal grant to pay off their federal loan. […]
The Ivanpah solar electric generating plant is owned by Google and renewable energy giant NRG, which are responsible for paying off their federal loan.
Rest in Peace: The List of Deceased Solar Companies, 2009 to 2013
This list only goes to Dec./13
The list includes;
Bankrupt, closed, acquired
Acquisition, sale
Fire sale, restructuring
Watch List (which didn’t include the Ivanpah Solar Plant)
from the article (spin spin spin!)
How do you say three eyed white elephant eats $2bil in Crony Capitalist?
They all belong in jail.
Yes, as the article says “…the companies left standing ,,, will be the stronger firms with viable business plans and sustainable value.” And as it doesn’t say, that will be just as if the government hadn’t loaned or given billions in taxpayers money to the other companies which were weaker because they don’t have viable business plans and sustainable value.
When we discuss renewable energy companies, the term “viable business plan” becomes extremely relative depending on which side of the political spectrum you sit on.
What about Harry Reed & his Nevada (BLM) take over of ranch land for China solar plants. He will have to go in the back door without snipers.
http://www.google.ca/green/energy/investments/
Repurpose an oil and gas field?
No surprise here because alternative energy is exactluy as advertised ‘an alternative to energy’.
Viable business plan means subsidy farming
yah, welfare has become a very broad topic
google? you mean that GOOGLE? $300+B GOOGLE?
So for 1.6 billion dollars you too can build a solar powered tea kettle/bird roaster? Well if the government is footing the bill – SIGN ME UP!
If I’m not mistaken this is the same solar farm that the flights coming to and from Harmon airport in Vegas have to keep a 6 miles buffer zone so as to not blind the pilots.
As an aside while messing with the progs at the HuffPo, an article decrying the toothless environmental watchdog at NAFTA I mentioned this boondoggle as wasted taxpayers money. I was immediately set upon as an uncaring Con troll. Said commentary tried to explain that the oil and gas industry was blessed with $23 billion in subsidies. So I researched so called subsidies and found none on the StatsCan website.
There were however a handful of articles saying there were many subsidies, problem was they were all from the Pembina, Tyee, Tides etc. I finally found an article in Forbes that explained the phenomenon. Turns out oil and gas get no more or less tax breaks than any other industry and in some cases pay more because of who they are.