I Think the Term Is Either “Doubling Down”

…or Here’s Yer Sign.

Obama administration approves 2 more solar energy loan guarantees worth total of $1B

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.

Got to spend that quick like a bunnny! Money disappears Friday! GO GO GO!

… At least seven projects worth about $5 billion are pending.

Flush, flush flush!!!

UPDATE: Oh, the beat does go on. You’re gonna need that commode people, ’cause you’re gonna poop:

U.S .finalizes loan guarantee for two solar plants

…–U.S. backs Nevada, Arizona solar projects

–Fund affiliated with George Kaiser, a Solyndra backer, invested in Nevada project

Now THAT’S transparency. Sure makes remembering names easy.

UPDATE: Yojimbo nails it in the comments:

…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.

Why is “SolarReserve” important? Because of it’s investment partners, one of which is PCG Clean Energy & Technology Fund (East) LLC.

Their number two guy happens to be named RONALD PELOSI ~ yes, Nancy’s brother-in-law. OOPSIE!

And how he got THAT position seems to be the subject of some controversy in itself.

10 Responses to “I Think the Term Is Either “Doubling Down””

  1. Yojimbo says:

    Stop the music!


    737 mil for 110 megawatts
    337 mil for 150 megawatts

    Probably a good explanation for the disparity. Maybe the cost per unit is the same and just the percentage of public financing is different. Maybe there is a land component in here, Nevada land would cost more,maybe.

    I guess I’m just a waaacist.

    /all 7’s and 3’s. Paranoia abounds.

  2. major dad says:

    And just maybe Yojimbo it’s money down the toilet. Wonder if they figured out how to keep those solar panels clean, I hear it gets dusty out there in the desert.

  3. Yojimbo says:

    Ha! Just one Haboob away from a Windex crisis.

  4. JeffS says:

    That comes to about $4.1 million per megawatt. The period of return on that’s gonna be long, unless they really jack up the rates for the unwashed masses to access this clean energy.

  5. aelfheld says:

    Yojimbo, Kaiser’s involved in the Nevada boondoggle; since he has a proven track record it gets more of the loot (a track record of failure is a track record).

  6. Yojimbo says:

    I heard this afternoon that a relative of Nancy Pelosi might also be involved in the Nevada project on the financing side.

  7. tree hugging sister says:

    Oh, NO WAY!!!! How delicious would that be?

  8. Greg Newson says:

    Toilets or commodes,even American Standard ones,are made in Brazil now.That’s the problem.Germany,France still have industry,we have none.We have FACEbOOK,with their 1000 employees-big fu#king deal.
    Obama is sucking up to them as job producers.Even Apple has 90 percent of their employees in China-mostly teenagers.Slave traders,,,,,

  9. Yojimbo says:

    I guess we only drained the “no diving allowed’ kiddy section of the swamp a few years back. The swimming with sharks section seems to be doing just fine.

    Hope we don’t find that Tonopah is close to Searchlight Nevada-home of Harry Reid.

  10. Gary from Jersey says:

    This would be the same Nancy Pelosi who voted three times to giver her husband a huge contract to run Walter Read. That would be the same military hospital that got reamed for for atrocious medical care a little while later.

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