Another subsidized solar firm flames out | Times 247

Another subsidized solar firm flames out | Times 247: Another subsidized solar firm flames out
News
The Washington Examiner
by: Joel Gehrke
Monday, April 2, 2012

Another subsidized solar firm flames out
Interior Secretary Ken Salazar and California Gov. Jerry Brown at the Blythe, Calif., attend groundbreaking ceremony for Solar Trust for America project. Photo Credit:White House
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. ...

Interior Secretary Ken Salazar attended the groundbreaking ceremony, which he described as "a historic moment in America’s new energy frontier" and "another important step in making America’s clean energy future a reality."

Read the original article at The Washington Examiner

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