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World’s Largest Solar Farm Files Bankruptcy

From an unfazed Reuters:

Solar Trust of America files bankruptcy

April 2, 2012

(Reuters) – Solar Trust of America LLC, which holds the development rights for the world’s largest solar power project, on Monday filed for bankruptcy protection after its majority owner began insolvency proceedings in Germany.

You read that right. This was the largest solar power project in the world.

The Oakland-based company has held rights for the 1,000-megawatt Blythe [sic] Solar Power Project in the Southern California desert, which last April won $2.1 billion of conditional loan guarantees from the U.S. Department of Energy.

It is unclear how the bankruptcy will affect that project

Unclear to whom?

Solar Trust of America and several affiliates filed for protection from creditors with the U.S. bankruptcy court in Delaware. It estimated to have as much as $10 million of assets, and between $50 million and $100 million of liabilities…

Is anyone keeping an official list? By our count, so far we have seen the following ‘green energy’ companies go under: Solyndra, Abound Solar, Energy Conversion Devices, Bright Source, LSP Energy, Evergreen Solar, Ener1, SunPower, Beacon Power, Ecotality, A123, Uni-Solar, Azure Dynamics. And now, Solar Trust.

Still, it beats wasting our time and money drilling for new oil.

This article was posted by Steve on Tuesday, April 3rd, 2012. Comments are currently closed.

5 Responses to “World’s Largest Solar Farm Files Bankruptcy”

  1. P. Aaron says:

    So much light, so much money, so little energy, zero success.

  2. AcornsRNutz says:

    This brings to mind something someone said to me once concerning Rob Haleford admitting he was gay. Least surprising surprise ever. But the problem is not the flawed science and government funding, the problem is we just haven’t tried hard enough. If anything this frees up more funding for algae farms and windmills.

    • untrainable says:

      Algae is so yesterday and we have to look to the future. Today my new “Foundation for the Untrainable” (or F.U.. as we are affectionately known) is applying for funding for research into unicorn farts and fairy dust. The future of unicorn farts (with their, better than green, rainbow energy) is apparently most promising. And fairy dust as a renewable resource is much more cost effective than coal or oil. If we can get a government grant for a billion dollars or so, I have no doubt that in two years we can be bankrupt with absolutely nothing to show for it. In this administration, that’s a success… right? Then we move on to solve the problem of food deserts. First, lots of palm trees…

    • AcornsRNutz says:

      Ya know, this unicorn fart thing sounds promising. And I bet that if we can get a government grant for a narwal, a horse and about 50 million for a research lab we could get something going. If we staff said lab with underpriviledged minority teens we could be looking at even more funding. We won’t be bankrupt if we stick to R&D and never produce anything.

  3. Astravogel says:

    Mitsubishi just stopped on a multi-million dollar wind turbine plant at a
    former Army post in Western Arkansas. The building is there, the machines
    are sitting in storage, but the demand for the product is just not there. They’re
    a pragmatic bunch of folks at Three Diamonds.
    How much wind does a unicorn generate, anyhoo?

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