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Cisco Systems, Inc. Message Board

  • stagetec100 stagetec100 Apr 5, 2012 2:28 PM Flag

    ANOTHER GOV’T-BACKED CLEAN ENERGY CO. TOUTED BY OBAMA ADMIN GOES BANKRUPT

     

    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.

    The filing comes amid the ongoing controversy surrounding Solyndra, a solar firm that received a half-billion dollar federal loan and was touted by the Obama administration before declaring bankruptcy last year.

    Interior Secretary Ken Salazar and California Gov. Jerry Brown were on hand last June when Solar Trust broke ground on a 1,000-megawatt project in California. The project was touted as the world‘s largest solar power plant and a keystone of the Obama administration’s efforts to promote solar energy.

    The Associated Press contributed to this report.

    More taxpayer dollars thrown down a rat hole... THANKS AGAIN OBAMA

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