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Posted on 04/03/2012 12:50:59 PM PDT by Oldeconomybuyer
BLYTHE, Calif. — The latest setback in a stalled 1,000-megawatt solar plant in the Southern California desert came nearly 10 months after Interior Secretary Ken Salazar and Gov. Jerry Brown broke ground on what was then touted as the world’s largest solar project and a keystone of the Obama administration’s solar energy efforts.
Blythe plant developer Solar Trust of America sought Chapter 11 bankruptcy protection in a Delaware court on Monday because the Oakland-based firm was unable to meet a deadline for an Energy Department loan guarantee.
Solar Trust is the latest failure in a solar industry shakeout that began last year when Northern California-based panel manufacturer Solyndra closed its doors, defaulting on a $535 million federal loan guarantee.
Like Solyndra, Solar Trust had received a $2.1 billion federal loan guarantee.
The Blythe project began unraveling two months after the June 17 groundbreaking.
(Excerpt) Read more at washingtonpost.com ...
As Sam Kinison once said, “IT’S A DESERT! MOVE!!”
How many more demonstrations of the “Anti-Midas” economic touch, which all RATS possess, are needed before the taxpayers wake up?
Crap! How’re they gonna power moonbeam’s bullet train?
The latest setback in a stalled 1,000-megawatt solar plant in the Southern California desert came nearly 10 months after Interior Secretary Ken Salazar and Gov. Jerry Brown broke ground on what was then touted as...
My eye tripped over the wording of the very first sentence.
"Nearly ten months" is a formulation one would use if one was trying to emphasize how long something lasted. Like this, for example: "as a child, Barry Soetoro was made to hold his breath for nearly ten months by white boys who lived in a nearby gated community." Or, in this case, "Even though he knows nothing about investing and even less about solar power, one of our Affirmative Action President's pet projects lasted nearly ten months before it went belly-up."
Under any other circumstances (like, say, a Republican president tried this like that would ever happen) the wording would be more like "less than one year." Like this:
The latest setback in a stalled 1,000-megawatt solar plant in the Southern California desert came less than one year after Interior Secretary James G. Watt and Gov. George Deukmejian broke ground on what was then touted as...
Well done, LOL!
I'm sure there must be some way, some how to make solar energy pay. And without free government money, somebody might just be able to figure it out.
But the purpose of getting government grants is to get money, not to achieve results. Why is that so hard to figure out?
PG&E gave up on their solar plant in the California Valley over 20 years ago.
It’s not unusual for the second owner of a bankrupt company to make a go of it. The assets are sold for what they’re worth (very little) — not for what they initially cost (too much). It’s just a case of the second mouse getting the cheese.
You just have to feel sorry for all of those “connected” real-estate investors who bought surrounding property after they got the “heads up, thumbs up, wink wink” from political insiders BEFORE public knowledge was known about the project.
That’s the way it ALWAYS works before public knowledge of any major political project is exposed to the general public. However, seems like it backfired.
Hope they all lose their shirts on this one.
If there is anywhere in America that a commercial solar power plant would work, this would be it.
Oh! Silly me...the gas and coal fired power plants have to take on the additional load.
Silly...silly...silly.
Way to go Einstein!
How does a 100% failure relate to a "40% expected failre rate?"
1000 megawatts??
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Wonder how much of this “green energy” money is going into the personal and relection pot to obama, from these companies going out of business?
Fluke!
Just how much would the transmission lines from this “power plant” cost & how long to install?
Everybody in that pic is very accomplished in shoveling SOMETHING—I don’t think it is sand. I suspect something darker & stickier.
Mojave Indian translation: "Gov. shysters spear helpless taxpayers." Ugh! ;)
How does something "partially" stretch across 7,000 acres? And isn't it interesting that blotting out 11 square miles of public lands is fine, but setting up an oil well on about 1 acre isn't?
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