Obama approves solar energy loan guaranty of $700M w tie to Pelosi & Enron

[Soul Crusher]

Obama administration approves 2 more solar energy loan guarantees worth total of $1B
Article by: MATTHEW DALY , Associated Press Updated: September 28, 2011 - 12:23 PM


http://www.startribune.com/nation/130717383.html

 
 . WASHINGTON - Facing a Friday deadline, the Energy Department has approved two loan guarantees worth more than $1billion for solar energy projects in Nevada and Arizona.

Energy Secretary Steven Chu said the department has completed a $737 million loan guarantee to Tonopah Solar Energy for a 110 megawatt solar tower in Nevada, and a $337 million guarantee for Mesquite Solar 1 to develop a 150 megawatt solar plant in Arizona.

The loans were approved under the same program that paid for a $535 million loan to Solyndra Inc., a now-bankrupt solar panel maker that has become a rallying cry for Republican critics of the Obama administration's green energy program.

The latest loan program, approved under the 2009 economic stimulus law, expires Friday. At least seven projects worth about $5 billion are pending.

[Soul Crusher]

“The Energy Department says the project will result in 600 construction jobs and 45 permanent jobs.”

So, once again, we have the Progressive Utopia Job Metric: $737 million divided by 45 = $16.37 million per job.

In 2010, the median US household income was $52,026. This project will create one permanent job at the cost of over 300 jobs in the private economy. At this rate, we will be headed to ZERO private sector jobs faster than you can say “high speed rail”. Speaking of ZERO...


vIA fr

[Soul Crusher]

Crony Socialism: Obama Gives $737 Million to Solar Firm Linked to the Pelosi Clan
Gateway Pundit ^ | 9/28/11 | Jim Hoft



It’s as if Solyndra never happened. The Obama Administration is giving $737 million to a Tonopah Solar, a subsidiary of California-based SolarReserve. PCG is an investment partner with SolarReserve. Nancy Pelosi’s brother-in-law happens to be the number two man at PCG.

Team Obama is spending $737 million to create 45 permanent jobs. The Hill reported, via Free Republic:

The Energy Department announced Wednesday that is has finalized a $737 million loan guarantee for a Nevada solar project.

The decision comes several weeks after a California-based solar manufacturer that received a $535 million loan guarantee from the Obama administration in 2009 filed for bankruptcy and laid off 1,100 workers, setting off a firestorm in Washington.

The $737 million loan guarantee will help finance construction of the Crescent Dunes Solar Energy Project, a 110-megawatt solar-power-generating facility in Nye County, Nev. The project is sponsored by Tonopah Solar, a subsidiary of California-based SolarReserve.


(Excerpt) Read more at thegatewaypundit.com ...

[Soul Crusher]

http://www.freerepublic.com/focus/news/2784962/posts?page=2#2

http://www.solarreserve.com/aboutUs.html

Investment Partners:

US Renewables Group

Good Energies

Citigroup

PCG Clean Energy & Technology Fund (East) LLC

(http://www.pcgfunds.com/people.html

Christopher Bower
Founder/Chairman/CEO

...

Ronald Pelosi

Mr. Pelosi brings to PCG Asset Management a distinguished career in business and public service. He has an extensive background in the securities industry, mutual funds, and private equity. He is an accomplished Financial Industry Regulatory Authority (FINRA) mediator, and has served in a number of positions as a public official.

Mr. Pelosi is the President of Trenholm Associates, a consulting firm offering specialized services to companies in the financial industry. His investment firm experience includes: Senior Advisor, ReFlow Management; President, Forward Funds, diversified mutual fund group; President, Webster Investment Management Company; President, Longwood Co., member firm, NASD; Representative, Dean Witter & Company, and, Hambrecht & Quist; Board of Trustees, Pacific Corporate Group Private Equity Fund. In addition, he was a Partner of Korn/Ferry International, an executive search firm.

Presently, he serves on FINRA’s national panel of mediators. Formerly, he was on the arbitration/mediation panels of the New York, American, and Pacific Coast Stock Exchanges. He was also on the American Arbitration Association roster of arbitrators.

His record of public service includes: President of the San Francisco Board of Supervisors; President of the San Francisco City Planning Commission; Chairman of the Board, San Francisco Employees’ Retirement System; Board of Directors, Golden Gate Highway and Transportation District, Association of Bay Area Governments, and the League of California Cities. He is currently a standing guest lecturer on Mediation for Dispute Resolution at Stanford University.

Mr. Pelosi holds a BA from Stanford University in American History.

...)

Nazarian Enterprises

CalPERS Clean Energy and Technology Fund

Argonaut Private Equity

Credit Suisse

//

http://www.privcap.com/snowsnotes/2011/04/how-did-nancy-pelosi%E2%80%99s-brother-in-law-become-no-2-at-pcg/

How Did Nancy Pelosi’s Brother-in-Law Become No. 2 at PCG?

[Soul Crusher]

Energy Department approves $1B in solar energy loan guarantees (More Solyndra's in the pipeline?)
The Hill ^ | 09/28/2011 | By Andrew Restuccia



The Energy Department announced Wednesday that is has finalized more than $1 billion in loan guarantees for two separate solar energy projects.

The decision comes several weeks after Solyndra, a California-based solar manufacturer that received a $535 million loan guarantee from the Obama administration in 2009, filed for bankruptcy and laid off 1,100 workers, setting off a firestorm in Washington.

DOE announced a $737 million loan guarantee to help finance construction of the Crescent Dunes Solar Energy Project, a 110-megawatt solar-power-generating facility in Nye County, Nev. The project is sponsored by Tonopah Solar, a subsidiary of California-based SolarReserve.

The Energy Department said the project will result in 600 construction jobs and 45 permanent jobs.

“If we want to be a player in the global clean energy race, we must continue to invest in innovative technologies that enable commercial-scale deployment of clean, renewable power like solar,” Energy Secretary Steven Chu said in a news release. “Solar generation facilities, like the Crescent Dunes Solar Energy Project, help supply energy to local utilities and create hundreds of good, American clean energy jobs.”

The Crescent Dunes facility will generate power using concentrated solar power technology, in which a series of mirrors direct sunlight onto a receiver at the center of the plant.

The Energy Department also announced that it had finalized a separate $337 million loan guarantee to Sempra Energy for a 150-megawatt photovoltaic solar-generation project in Arizona.

The project will result in 300 construction jobs, DOE said.


(Excerpt) Read more at thehill.com ...

[Soul Crusher]

Enron vet turns up in $737m solar loan guarantee by
Joel Gehrke Commentary Staff Writer
Follow on Twitter:@jsgehrkejr

http://campaign2012.washingtonexaminer.com/blogs/beltway-confidential/enron-vet-turns-737m-solar-loan-guarantee



President Obama's Solyndra scandal drew comparisons to the Enron scandal of the Bush era, but the Department of Energy's latest $737 million loan guarantee for the solar energy company Tonopah Solar involves a veteran of Enron Corp.

Tom Georgis serves as Senior Vice President of Development for Solar Reserve, the parent company of Tonopah Solar (the Tonopah Solar email address even routes to a Solar Reserve account). According to the Solar Reserve biography for Georgis, he has worked in the energy sector for 20 years, including a stint as  "a manager at Enron Corp. where he was responsible for developing and structuring energy asset projects internationally; negotiating and closing over 500 MW of power generation agreements."

Of course, to have worked for Enron does not mean Georgis is a crook. In fact, he has the very honorable distinction of also having "served nine years as a Naval Special Warfare Officer in the United States Navy." But the trivia is certainly interesting, given President Obama's recent history with Solyndra.

[Soul Crusher]

Pelosi's brother-in-law is given $737m of taxpayers' money to build giant solar plant
Daily Mail (UK) ^ | September 29, 2011 | By John Stevens and Leon Watson
Posted on September 29, 2011 6:06:04 PM EDT by Oldeconomybuyer

Nancy Pelosi is facing accusations of cronyism after a solar energy project, which her brother-in-law has a stake in, landed a $737 million loan guarantee from the Department of Energy, despite the growing Solyndra scandal.

The SolarReserve project is backed by an energy investment fund where the Minority Leader's brother-in-law Ronald Pelosi is second in command.

Tom Schatz, president of Washington-based advocacy group Citizens Against Government Waste, said: 'It is time for a full audit of their activities, their management and their results.

'Candidly, it might be time for the federal government to rethink the whole idea of loan programs.'

(Excerpt) Read more at dailymail.co.uk ...

[Fury]

Solyndra was a smashing success so it only seems right to up the ante. Pelosi's thuggish relative benefiting is just a nice bonus. It's not like her net wealth didn't increase 60% last year or anything (out-performing 99.99% of the world's best hedge fund managers even). Who says politics doesn't pay? 

[Soul Crusher]

Solyndra was a smashing success so it only seems right to up the ante. Pelosi's thuggish relative benefiting is just a nice bonus. It's not like her net wealth didn't increase 60% last year or anything (out-performing 99.99% of the world's best hedge fund managers even). Who says politics doesn't pay? 

And all people like 240 give a fuck about is palin getting cans name wrong.   

[Fury]

And all people like 240 give a fuck about is palin getting cans name wrong.   

Watch out now or he'll lecture you on something he did just yesterday. What a sad, sad skinny/fat twink he is.

[Soul Crusher]

Watch out now or he'll lecture you on something he did just yesterday. What a sad, sad skinny/fat twink he is.

Notice how straw, andre, 240, blackass Benny Magoo et al have not said a peep about any of these growing disasters? 

[Vince G, CSN MFT]

Enron vet turns up in $737m solar loan guarantee by
Joel Gehrke Commentary Staff Writer
Follow on Twitter:@jsgehrkejr

http://campaign2012.washingtonexaminer.com/blogs/beltway-confidential/enron-vet-turns-737m-solar-loan-guarantee



President Obama's Solyndra scandal drew comparisons to the Enron scandal of the Bush era, but the Department of Energy's latest $737 million loan guarantee for the solar energy company Tonopah Solar involves a veteran of Enron Corp.

Tom Georgis serves as Senior Vice President of Development for Solar Reserve, the parent company of Tonopah Solar (the Tonopah Solar email address even routes to a Solar Reserve account). According to the Solar Reserve biography for Georgis, he has worked in the energy sector for 20 years, including a stint as  "a manager at Enron Corp. where he was responsible for developing and structuring energy asset projects internationally; negotiating and closing over 500 MW of power generation agreements."

Of course, to have worked for Enron does not mean Georgis is a crook. In fact, he has the very honorable distinction of also having "served nine years as a Naval Special Warfare Officer in the United States Navy." But the trivia is certainly interesting, given President Obama's recent history with Solyndra.

I also heard that they hired some janitors who worked for Bernie Madoff.  We better keep an eye on them too....

[Vince G, CSN MFT]

Obama administration approves 2 more solar energy loan guarantees worth total of $1B
Article by: MATTHEW DALY , Associated Press Updated: September 28, 2011 - 12:23 PM


http://www.startribune.com/nation/130717383.html

 
 . WASHINGTON - Facing a Friday deadline, the Energy Department has approved two loan guarantees worth more than $1billion for solar energy projects in Nevada and Arizona.

Energy Secretary Steven Chu said the department has completed a $737 million loan guarantee to Tonopah Solar Energy for a 110 megawatt solar tower in Nevada, and a $337 million guarantee for Mesquite Solar 1 to develop a 150 megawatt solar plant in Arizona.

The loans were approved under the same program that paid for a $535 million loan to Solyndra Inc., a now-bankrupt solar panel maker that has become a rallying cry for Republican critics of the Obama administration's green energy program.

The latest loan program, approved under the 2009 economic stimulus law, expires Friday. At least seven projects worth about $5 billion are pending.

So what???  The government is in the business of giving corporate loans

[Soul Crusher]

No wonder you are so fond of rouge corrupt African countries.   You have the same mentality. 

[Soul Crusher]