Posted on 04/22/2012 8:18:45 PM PDT by Americangirl007
The Solar thing just got a little more interesting.......REALLY! The Tonopah Solar company in Harry Reid's Nevada is getting a $737 million loan from Obama's DOE. The project will produce a 110 megawatt power system and employ 45 permanent workers. That's costing us just $16 million per job. One of the investment partners in this endeavor is Pacific Corporate Group (PCG). The PCG executive director is Ron Pelosi who is the brother to Nancy's husband. Just move along folks.....nuthin goin on here.
EVERY AMERICAN SHOULD KNOW HOW THEIR MONEY IS BEING STOLEN SO FORWARD THIS TO EVERYBODY.
EVERY AMERICAN SHOULD KNOW HOW THEIR MONEY IS BEING STOLEN SO FORWARD THIS TO EVERYBODY.
I always wondered how they moving stolen money around. Money laundering.
Another waste of DOE grant or loan money was the context.
I live in Nevada, and called Reid’s office to find out where to apply for these jobs. My daughter has been unemployed for 18 MONTHS! I was told there were only TWO positions, and that one of those was located in California. What you hear is true. Reid won with a rigged election and the help of the SEIU.
yawn..............
wake me when more than a few people are willing to do more than feign outrage. How bout we do something that can really make a difference, such as NOT SEND IN OUR TAXES!!!! Won’t work if a couple hundred small business owners do it but if a couple million + decide to do it we could actually make a difference. Have a feelling I won’t see this happen in my lifetime.
Crony Socialism: Obama Gives $737 Million to Solar Firm Linked to the Pelosi Clan
Posted by Jim Hoft on Wednesday, September 28, 2011, 12:14 PM
It’s as if Solyndra never happened. The Obama Administration is giving $737 million to a Tonopah Solar, a subsidiary of California-based SolarReserve. PCG is an investment partner with SolarReserve. Nancy Pelosi’s brother-in-law happens to be the number two man at PCG.
The Energy Department announced Wednesday that is has finalized a $737 million loan guarantee for a Nevada solar project.
The decision comes several weeks after a California-based solar manufacturer that received a $535 million loan guarantee from the Obama administration in 2009 filed for bankruptcy and laid off 1,100 workers, setting off a firestorm in Washington.
The $737 million loan guarantee will help finance construction of the Crescent Dunes Solar Energy Project, a 110-megawatt solar-power-generating facility in Nye County, Nev. The project is sponsored by Tonopah Solar, a subsidiary of California-based SolarReserve.
Crescent Dunes is the latest solar project to receive a loan guarantee from the Energy Department in recent weeks. The department announced a $1.2 billion loan guarantee to Abengoa Solar for a solar generation project in California and a $150 million loan guarantee to 1366 Technologies for a Massachusetts solar manufacturing project earlier this month.
The Energy Department says the project will result in 600 construction jobs and 45 permanent jobs.
More solar companies led by Democratic donors received federal loan guarantees
Published: 12:51 AM 09/29/2011
A Daily Caller investigation has found that in addition to the failed company Solyndra, at least four other solar panel manufacturing companies receiving in excess of $500 million in loan guarantees from the Obama administration employ executives or board members who have donated large sums of money to Democratic campaigns.
And as questions swirl around possible connections between political donations and these preferential financing arrangements, the Obama White House suddenly began deflecting The Daily Caller’s questions on Wednesday to the Democratic National Committee.
Asked Wednesday to comment on the connection between large Democratic donors and Obama administration loan guarantees to the companies they represent, the White House responded to TheDC with a single sentence: “We refer your question to the Democratic National Committee.”
Concerns about the long-term viability of Solyndra, first made public by The Daily Caller back in February, have now expanded to include the financial health of other loan-guarantee recipient firms as well.
These companies have suffered from declining stock prices despite their favored status in the White House. Yet as the end of the federal government’s fiscal year looms on Friday, a new series of loans could be finalized amounting to more than nine times what taxpayers have already lost on the failed company Solyndra.
“Who was visiting the White House during this period of time?” Texas GOP Rep. Joe Barton asked when contacted by TheDC. Barton is a former chairman of the House Energy and Commerce Committee. “Who were they talking to and what were they talking about? Are there more loans at risk of not being paid back? Are these good investments or political favors?”
“The American people just lost a half billion dollars and they deserve answers to these questions before more money is wasted. Until we know exactly what happened, I think we should slow down this loan program and take a closer look at each case.”
Under a power purchase agreement (PPA) between SolarReserve and NV Energy, all power generated by the Crescent Dunes project in the next 20 years will be sold to Nevada Power Company for $0.135 per kilowatt-hour. In late September, Tonopah received a $737 million loan guarantee from the U.S. Department of Energy (DOE).
Ground was broken on the project September 1, 2011. Construction is expected to be complete by the summer of 2013, commercial operation planned to begin in December 2013.
http://en.wikipedia.org/wiki/Crescent_Dunes_Solar_Energy_Project
Ping.
Good luck getting Romney to bring it up. Maybe if someone loans him a pair...otherwise the future looks dark.
I think these solar companies are money laundering companies. They go out of of business to fast. I lived in Vegas in the 80’s when that low life sleaze bottom of the barrel rotten thug, Reid, was on the gaming commission. He’s the perfect crook to do this.
The list, Ping
Let me know if you would like to be on or off the ping list
Here is Irony:
http://www.guardian.co.uk/world/2012/apr/22/brazil-rainforest-awa-endangered-tribe
The same groups that would cheer on, and then decry the solar movement....to save the desert tortoise’s....will, policy wise, encourage rain forest logging.
But, not say a word concerning all the raptors being slaughtered by wind generators.
Complete madness.
Unless it goes belly up, and the CEO's split the money with B Wacky.
all power generated by the Crescent Dunes project in the next 20 years will be sold to Nevada Power Company for $0.135 per kilowatt-hour.
Stop and think about it. 20 years at the same rate on the wholesale rate! Inflation for one thing and the fact that over a period of years life cycle maintenance costs increase at a liner scale along with the increased costs of regulatory compliance and labor costs.
If I were to live long enough (past 86) I would bet my house on the fact that the only profit this company will make will be by counting all of the money they received from the taxpayers via our corrupt government...not from the production and sale of their product...power.
OOPS! Liner = Linear
Well, as Solyndra and other companies have proved, they never get to the 'production and sale' part.
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