Another Green Boondoggle Seeks Bankruptcy Protection
This is, what, about the eleventy-dozenth “green energy” company to go under despite the Obama administration’s subsidies?
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’s Chapter 11 filing on Monday listed assets between $1 million and $10 million, and liabilities between $10 million and $50 million.
And Interior Secretary Ken Salazar’s been touting this company:
Salazar, California Gov. Jerry Brown and other elected officials were in attendance in June when Solar Trust of America broke ground on its 1,000-megawatt Blythe solar project in Southern California. The project has been touted as the world’s largest solar power plant and a keystone of the Obama administration’s efforts to promote solar energy.
Last month, the company announced the project was being delayed for at least a year to accommodate a major technology change, from solar thermal troughs to photovoltaic solar panels that convert the sun’s power into electricity.
Salazar called the setback a normal part of the industry’s evolution and said it would not deter him from approving more solar projects.
Solyndra didn’t stop him, the Solar Trust delay didn’t stop him, wonder if their bankruptcy will stop him?
Probably not. He’s too much of an ideologue, like his boss.