Another Solar Energy fail

RPMDAD

Well-Known Member
Especially for US Taxpayers. Company is owned by Google and and renewable energy giant NRG, and not costing them a penny. Plus it kills birds, by cooking them in mid flight.

World's largest solar plant applying for federal grant to pay off federal loan
After already receiving a controversial $1.6 billion construction loan from U.S. taxpayers, the wealthy investors of a California solar power plant now want a $539 million federal grant to pay off their federal loan.

"This is an attempt by very large cash generating companies that have billions on their balance sheet to get a federal bailout, i.e. a bailout from us - the taxpayer for their pet project," said Reason Foundation VP of Research Julian Morris. "It's actually rather obscene."

The Ivanpah solar electric generating plant is owned by Google and renewable energy giant NRG, which are responsible for paying off their federal loan. If approved by the U.S. Treasury, the two corporations will not use their own money, but taxpayer cash to pay off 30 percent of the cost of their plant, but taxpayers will receive none of the millions in revenues the plant will generate over the next 30 years.

http://www.foxnews.com/politics/201...ing-for-federal-grant-to-pay-off-its-federal/
 

tommyjo

New Member
Gotta Love Fox News...right on top of things as usual. This story was first reported in the Wall Street Journal almost 7 weeks ago. http://online.wsj.com/articles/ivan...delay-repaying-loans-documents-say-1411488730

I guess it took them that long to gin up the story for base of "informed voters" that listens to Fox?

Some might point to Ivanpah’s struggles as another potential black eye for the U.S. Department of Energy loan guarantee program, but losses in the DOE portfolio have been small, well under what was budgeted for the program by Congress. Still, the plant’s slow start can’t be good news for its owners, particularly BrightSource, the company whose technology is on display at Ivanpah and which has struggled to advance other planned power tower projects in California.

Plant operator NRG declined to answer emailed questions about Ivanpah’s performance; BrightSource was more responsive.

The company said that “weather at Ivanpah since February has generally been worse than expected, resulting in reduced output.” July, when generation dipped to 35,967 MWh from 64,275 MWh in June -- the plant’s best month so far -- was particularly lacking in sunshine, BrightSource said, at least relative to the expectations the company developed over several years of meteorological study of the area.

http://www.greentechmedia.com/artic...ling-short-of-expected-electricity-production

BTW...the power plant is owned by a larger group than Fox reported (see the WSJ article)...but why let such silly things as facts get in the way of misinforming the public?
 

Gilligan

#*! boat!
PREMO Member
Gotta Love Fox News...right on top of things as usual. This story was first reported in the Wall Street Journal almost 7 weeks ago. http://online.wsj.com/articles/ivan...delay-repaying-loans-documents-say-1411488730

I guess it took them that long to gin up the story for base of "informed voters" that listens to Fox?



http://www.greentechmedia.com/artic...ling-short-of-expected-electricity-production

BTW...the power plant is owned by a larger group than Fox reported (see the WSJ article)...but why let such silly things as facts get in the way of misinforming the public?

So, sweet cheeks, you are asserting that the project is not actually a complete economic failure like nearly all wind and solar projects are? Do you have some sources to back that up?
 

acommondisaster

Active Member
Gotta Love Fox News...right on top of things as usual. This story was first reported in the Wall Street Journal almost 7 weeks ago. http://online.wsj.com/articles/ivan...delay-repaying-loans-documents-say-1411488730

I guess it took them that long to gin up the story for base of "informed voters" that listens to Fox?


http://www.greentechmedia.com/artic...ling-short-of-expected-electricity-production

BTW...the power plant is owned by a larger group than Fox reported (see the WSJ article)...but why let such silly things as facts get in the way of misinforming the public?


When did CBS and NBC run the story?
 
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