Skip to comments.How Democrats Say "Crony Corruption" in Spanish: Abengoa
Posted on 08/04/2012 8:09:37 AM PDT by TurboZamboni
This chapter looks at the Spanish company Abengoa that received more than $2.8 billion in loans and grantsmaking them the second largest recipient of the $16 billion doled out through the DOE 1705 loan guarantee program.
From the introduction of this serialized book, the thumbnail says:
Abengoa has two solar projects: Solana and Mojave Solar. Solanas Fitch rating is BB+. Just before Christmas, 2010, the company received $1.45 billion from the DOE for a solar thermal plant, to use parabolic trough technology in Gila Bend, AZ. Mojave Solars rating was BB. Yet the company received $1.2 billion in September 2011 for its solar assembly collection project in San Bernardino County, CA. Abengoa has connections to Californias Democratic Senator Dianne Feinstein.
In addition to the two solar projects listed above, Abengoa also has a biofuel project located in Kansas, which Fitch rated CCC, that got a $132.4 million loan in August 2010.
(Excerpt) Read more at finance.townhall.com ...