It is not quite like the Solyndra debacle. While Solar Trust of America had a $1.2 billion federal loan guarantee (according to this article in the April 2, 2012 Blythe [Cal.] Desert Sun), or a $2.1 billion federal loan guarantee (according to ZeroHedge), it appears from this article in the April 3, 2012 Forbes that the real issue was the German parent company went into bankruptcy, and Solar Trust of America lacked the operating funds to go forward. (Amusingly enough, the German parent company was bewildered by the insanity of California's environmental review requirements--something that you would not expect from a country where Greens are a major political force.)
Still: think about what it says when building an enormous power plant immediately adjacent to high power transmission lines in the Mojave Desert can't raise enough capital, even with a federal government loan guarantee. Maybe there's less than meets the eye to the supposed advantages of solar power?
No comments:
Post a Comment