Google-Owned Solar Company Requests $540 Million Bailout To Help Pay $1.6 Billion Loan

ivanpah c                                                    c

It seems that the solar power plant underestimated the number of sunny days and has only been able to produce 25% of the energy it said it would be able to produce. Now, this giant mirror farm was built in the California desert on the way to Las Vegas. There aren’t many rainy days in that neck of the tumbleweeds. But the boondoggle is missing its production numbers by 75% because of too many clouds? Isn’t California in the midst of a horrible drought? Sorry but I’m not buying it.

Actually I guess I am. We all are now.

(From The Daily Caller)

A renewable energy company touted publicly by President Barack Obama which lists Google as an investor is requesting a $539 million federal grant to help pay off part of a $1.6 billion federal loan it received to build a solar plant in the Mojave desert.

The Ivanpah Solar Electric Generating System, which is owned by Google, NRG Energy and BrightSource Energy, uses nearly 175,000 mirrors, called heliostats, and sprawls 3,500 acres in California.

Click here for the article.

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