Tag Archive: NRG Energy Inc


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.” “

 

 

Ivanpah Bailout

 

 

 

” 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.

” They’re already paying less than the market rate,” said Morris, author of a lengthy report detailing alleged cronyism and corruption in the Obama administration’s green energy programs. “Now demanding or asking for a subsidy in the form of a grant directly paying off the loan is an egregious abuse.” “

 

Cronyism at its worst . If anyone can afford to pay the taxpayers back for their forced largesse it is certainly Google .

Fox News

 

 

 

 

 

 

 

 

 

The $2.2 Billion Bird-Scorching Solar Project

 

 

 

 

 

” A giant solar-power project officially opening this week in the California desert is the first of its kind, and may be among the last, in part because of growing evidence that the technology it uses is killing birds.

  U.S. Energy Secretary Ernest Moniz is scheduled to speak Thursday at an opening ceremony for the Ivanpah Solar Electric Generating Station, which received a $1.6 billion federal loan guarantee.

  The $2.2 billion solar farm, which spans over five square miles of federal land southwest of Las Vegas, includes three towers as tall as 40-story buildings. Nearly 350,000 mirrors, each the size of a garage door, reflect sunlight onto boilers atop the towers, creating steam that drives power generators.

  The owners of the project— NRG Energy Inc.,  Google Inc. and BrightSource Energy Inc., the company that developed the “tower power” solar technology—call the plant a major feat of engineering that can light up about 140,000 homes a year.”

 

 

For every action there is an equal and opposite reaction … surprise , surprise … nothing is without cost .

 

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