Solar company bankrupt despite 'win-win' DOE loan

“Senior officials in Obama’s administration had very high hopes for the project.”

The Washington Examiner reports:

In keeping with the recent trend of so-called green companies going into the red, another solar energy company supported by President Obama’s top administration officials declared bankruptcy today.

Solar Trust for America received $2.1 billion in conditional loan guarantees from the Department of Energy — “the largest amount ever offered to a solar project,” according to Energy Secretary Steven Chu — for a project near Blythe, Calif., but declared bankruptcy within a year. It is unclear how much of the guarantee, if any, was actually awarded…

2 thoughts on “Solar company bankrupt despite 'win-win' DOE loan”

  1. Obama’s administration should have put up its own$$$. not taxpayers’ dollars.High hopes, my butt. Fire them. Fire them all.

  2. I seem to recall that Solyndra’s “loan” was set up so that private creditors got repaid before the taxpayers did. Somehow or other, the California Democratic Party was listed as one it’s private creditors. I’ve never heard anyone explain how that happened.
    Now, I don’t know. I’m not accusing. I’m just asking. Did any of these Green things that have gone under pay the Democratic Party of any state any of the taxpayer money they got?

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