Zander
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The World's Largest Solar Power Plant Goes Bankrupt
The CEO wouldn't take the money. He thought it was too risky.
The Reuters story states that the company won the loan, but as the Washington Post reported that the company turned down the loan in late September of 2011. The CEO of Solar Trust, Uwe T. Schmidt thought that the loan was "too risky". The Obama administration was willing to loan more than two billion taxpayer dollars to a company who was unwilling to take that kind of risk. The company's bankruptcy filings indicate they employed only nine people.
The CEO wouldn't take the money. He thought it was too risky.