Monday, November 10, 2014

Google-Owned Solar Company Seeks Massive Government Grant To Pay Even More Massive Government Loan

Solyndra, step aside. This solar energy company wants a 5.4 million dollar federal grant to help pay a 1.6 billion dollar federal loan and the parent company is on of the richest companies in the world....

(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.

"It’s going to put about 1,000 people to work building a state-of-the-art facility. And when it’s complete, it will turn sunlight into the energy that will power up to 140,000 homes," Obama said of Ivanpah in a weekly address in Oct. 2010, touting a new clean-energy investment initiative he said would stimulate the economy.

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Posted By: Chris Carmouche