Another taxpayer subsidized solar company bites the dust

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Obama’s done it again…yet another solar company that was living high on the taxpayers’ dime has declared bankruptcy…and this one could prove far worse than Solyndra, as Solar Trust of America secured a $2.1 billion taxpayer-funded loan, making Solyndra’s mere $535 million look like chump change.

The company, Solar Trust of America broke ground last year in Blythe CA., with California Governor Jerry Brown and Secretary of the Interior Ken Salazar picking up a shovel:

The Blythe Solar Power Project was to be the largest in the world with the construction of four thermal power plants with an output of 1,000 megawatts: enough electricity to serve 300,000 homes, says Salazar in the video above. Gov. Brown also *promised* to be:

The world leader in solar energy.

Well today all this bragadosio came to a screeching halt as Solar Trust of America filed bankruptcy in Delaware, citing assets of between $1M and $10M and liabilities of between $10M and $50M. In April of 2011 the U.S. Dept. of Energy announced taxpayer government loan guarantees of $2.1 BILLION.

Notice their by-line there? *snark*

Now let’s see if Solar Trust’s employees get caught on tape destroying parts like Solyndra’s employees did.

Crossposted at Conservative Outlooks

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LadyImpactOhio
Deplorable Reagan Conservative. Pro-life, pro 2A. Waiting for Obama's "legacy" to be undone.

Twitter: @LadyImpactOhio

"We the People tell government what to do. It does not tell us."__Ronald Reagan in his farewell speech.
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Deplorable Reagan Conservative. Pro-life, pro 2A. Waiting for Obama's "legacy" to be undone. Twitter: @LadyImpactOhio "We the People tell government what to do. It does not tell us."__Ronald Reagan in his farewell speech.

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Lady Penguin
Admin
April 2, 2012 6:48 pm

Where’s the outrage, where’s the questions? Oh, that’s right, Obama is https://www.breitbart.com/Big-Government/2012/04/02/obamas-counting-on-the-voters-being-stupid

bobmontgomery
April 3, 2012 10:52 am

It would be good if somebody had some totals on how much has been wasted on solar, wind, algae, whatever. Probably enough that had it been subtracted from manufacturer’s tax liabilities, it could have fueled sizeable growth in one or two midwestern rust belt states.