Another One Goes Plop: Solar Firm That Got $26M In Miss. Loans Is Closing

A cheap $10 calculator would allow you to figure out the inevitable. What does this make now 51, green company busts since he started taxpayer funding of the losers companies –In case You don’t know this is how crony capitalism, for the intellect challenged Obama voters, works.

Here is the details from WLOX:

JACKSON, Miss. (AP) – Mississippi taxpayers may have only an empty Senatobia building and some solar panel equipment to show for nearly $26 million in loans provided to Twin Creeks Technologies.

The California-based solar technology firm is liquidating, and a company that bought Twin Creeks’ assets does not intend to take over its agreement with Mississippi. The contract called for Twin Creeks to invest at least $132 million and create at least 500 jobs.

The Mississippi Development Authority’s Kathy Gelston says officials are negotiating for Twin Creeks to repay aid above the value of the building and equipment.

Lenders sold Twin Creeks’ technology for $10 million to GT Advanced Technologies of Nashua, N.H., in mid-November. Gelston says Twin Creeks received about $3 million from the sale, but says there are creditors beyond Mississippi.

Their is no viable business case for solar electricity, nor Wind power, except for sailboat use. The WIND Power lawsuits should be coming right along/ Wait for them…..


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