The $535 million loss on Obama’s flagship company supported by the DOE is just the beginning. It is only 2.5% of the DOE loan portfolio. Two others on this list are already gone. Abound and Solo Power. Bringing the total dollars lost just from this list to over a billion.
Here’s the current list of solar loan guarantee offers under the 1705 program:
1705 Loans and Grants
1366 Technologies Solar Mfg $150M MA
Abengoa Solar Solar Gen $1.4B AZ
Abengoa Solar Solar Gen $1.2B CA
Abound Solar Solar Mfg $400M CO
Agua Caliente Solar Gen $967M AZ
BrightSource Energy Solar Gen $1.6B C
Cogentrix of Alamosa Solar Gen $90.6M CO
First Solar (Antelope) Solar Gen $680M CA
First Solar (Sunlight) Solar Gen $1.8B CA
First Solar (Topaz) Solar Gen $1.9B CA
Fotowatio Solar Gen $45.6M NV
Sempra Mesquite Solar Gen $398M AZ
NextEra (Genesis) Solar Gen $852M CA
Prologis Solar Gen $1.4B US
SolarReserve Solar Gen $734M NV
SoloPower Solar Mfg $197M OR
Solyndra Inc. Solar Mfg $535M CA
SunPower (CVSR) Solar Gen $1.1B CA
Remember, this is just solar and, just loans made under the great brain, Dr. Chu. He has been throwing billions at all forms of green energy.
Write your Congressman and demand he look into the total amount of losses the DOE has incurred from day one. It’s not in any data bank I can find.
We know about the billions lost in ethanol subsidies. But, the DOE has been very active in this are with several failures in cellulose. Algae is another area where the DOE has incurred losses.
If you include the budget for the DOE since inception, plus the losses, it’s many, many billions squandered.
When does this stop and who stops it?
Not Obama, he took an $80,000 campaign contribution from the founders of Solyndra and parlayed that into a $535 billion loss for taxpayers. He had at least 20 visits to the White House from those founders. He used the company as a platform to ballyhoo green energy jobs. Now the FBI is looking into fraud by those visitors of Obama’s.
The Tea Party Freshmen need to take this up and deliver the truth to the public. It’s not coming from anyone else.
