Sun Edison, one of the largest Solar Power Companies nears Bankruptcy

[eagle1462010]

Sun Edison, one of the largest Solar Power Companies nears Bankruptcy

Pending Bankruptcy of Largest Solar Company Puts Alternative Energy Industry Into Full Meltdown Mode

The sad story of how the biggest solar company in the world fell to its knees
SunEdison, the biggest solar-energy manufacturing firm in the entire world, is nearing bankruptcy.

Its decline has been swift and brutal, taking some of the most legendary names in finance with it.

The stock that was once a hedge fund darling has turned into Wall Street’s nightmare.

A company that was once worth more than $10 billion is now valued at $150 million, with close to $8 billion in long-term debt.


Financial Turmoil at SunEdison Imperils Solar Projects Worldwide
In November, solar energy giant SunEdison reported that its project pipeline had grown by 75% in just a year, the result of an aggressive growth strategy.

Now, five months later, many of those projects are imperiled as SunEdison reportedly prepares to declare bankruptcy.



To those that have yelled Save the planet...........save the planet.......Solar is Free.......Solar is Free................the bang for the buck of this Free Energy has put the World's Largest Solar Company in the World BANKRUPT..............

Just coming forward to say............TOLD YOU SO.

 

[eagle1462010]

SunEdison To File for Bankruptcy As Early As Sunday Night

The source cautioned that the timing of the bankruptcy filing had not been finalized and asked not to be identified because the plans were not public.



SunEdison, which had debt of about $12 billion as of Sept. 30, said in a filing on Friday that it was in talks for potential debtor-in-possession financing with some of its first and second-lien lenders.

The company said it needed about $310 million to stay in business, estimating a cash shortfall of $260 million by mid-June. SunEdison said it expected to secure the financing by pledging assets.

 

[eagle1462010]

Obama-Backed Green Energy Company Goes Bankrupt — After Getting Billions From Taxpayers

The Spanish green energy company Abengoa has filed for Chapter 15 bankruptcy protection in the U.S. after getting billions of dollars from the Obama administration to build solar power and biofuels plants.

Abengoa, which has gotten $2.7 billion in federal subsidies, filed for U.S. bankruptcy protection after already filing for bankruptcy in Spain. In U.S. bankruptcy court, Abengoa can get more favorable terms, such as “the so-called automatic stay that halts lawsuits and prevents creditors from seizing assets,” according to The Wall Street Journal.

Abengoa took on nearly $17 billion in debt, according to court filings, after it aggressively expanded in hopes the green energy market would grow much faster than it did. The company has floated a restructuring plan to shed assets until it’s only about $5.5 billion in the hole.



Even with FREE MONEY FROM THE GOV'T....................Belly Up.

 

[eagle1462010]

 

[Kosh]

Many of the alternative energy companies went belly up under Obama and the stimulus..

Evergreen Solar ($25 million)*
SpectraWatt ($500,000)*
Solyndra ($535 million)*
Beacon Power ($43 million)*
Nevada Geothermal ($98.5 million)
SunPower ($1.2 billion)
First Solar ($1.46 billion)
Babcock and Brown ($178 million)
EnerDel’s subsidiary Ener1 ($118.5 million)*
Amonix ($5.9 million)
Fisker Automotive ($529 million)
Abound Solar ($400 million)*
A123 Systems ($279 million)*
Willard and Kelsey Solar Group ($700,981)*
Johnson Controls ($299 million)
Schneider Electric ($86 million)
Brightsource ($1.6 billion)
ECOtality ($126.2 million)
Raser Technologies ($33 million)*
Energy Conversion Devices ($13.3 million)*
Mountain Plaza, Inc. ($2 million)*
Olsen’s Crop Service and Olsen’s Mills Acquisition Company ($10 million)*
Range Fuels ($80 million)*
Thompson River Power ($6.5 million)*
Stirling Energy Systems ($7 million)*
Azure Dynamics ($5.4 million)*
GreenVolts ($500,000)
Vestas ($50 million)
LG Chem’s subsidiary Compact Power ($151 million)
Nordic Windpower ($16 million)*
Navistar ($39 million)
Satcon ($3 million)*
Konarka Technologies Inc. ($20 million)*
Mascoma Corp. ($100 million)

List: 36 Of Obama’s Taxpayer-Funded Green Energy Failures

 

[gipper]

Can't Big Ears just print more money and give it to those solar companies? I mean really....we must do all we can to save the planet from those evil polluting carbon spewing Republicans....

 

[CrusaderFrank]

Bush's fault

 

[gipper]

Many of the alternative energy companies went belly up under Obama and the stimulus..

Evergreen Solar ($25 million)*
SpectraWatt ($500,000)*
Solyndra ($535 million)*
Beacon Power ($43 million)*
Nevada Geothermal ($98.5 million)
SunPower ($1.2 billion)
First Solar ($1.46 billion)
Babcock and Brown ($178 million)
EnerDel’s subsidiary Ener1 ($118.5 million)*
Amonix ($5.9 million)
Fisker Automotive ($529 million)
Abound Solar ($400 million)*
A123 Systems ($279 million)*
Willard and Kelsey Solar Group ($700,981)*
Johnson Controls ($299 million)
Schneider Electric ($86 million)
Brightsource ($1.6 billion)
ECOtality ($126.2 million)
Raser Technologies ($33 million)*
Energy Conversion Devices ($13.3 million)*
Mountain Plaza, Inc. ($2 million)*
Olsen’s Crop Service and Olsen’s Mills Acquisition Company ($10 million)*
Range Fuels ($80 million)*
Thompson River Power ($6.5 million)*
Stirling Energy Systems ($7 million)*
Azure Dynamics ($5.4 million)*
GreenVolts ($500,000)
Vestas ($50 million)
LG Chem’s subsidiary Compact Power ($151 million)
Nordic Windpower ($16 million)*
Navistar ($39 million)
Satcon ($3 million)*
Konarka Technologies Inc. ($20 million)*
Mascoma Corp. ($100 million)

List: 36 Of Obama’s Taxpayer-Funded Green Energy Failures

If the MSM were not so completely controlled by the D party, this would be a big story. I bet the NY Times never published this enormous failure...and most of the lib TV networks probably didn't either.

Is it any wonder your regular joe six pack liberal, has no clue what is going on?

 

[Kosh]

Many of the alternative energy companies went belly up under Obama and the stimulus..

Evergreen Solar ($25 million)*
SpectraWatt ($500,000)*
Solyndra ($535 million)*
Beacon Power ($43 million)*
Nevada Geothermal ($98.5 million)
SunPower ($1.2 billion)
First Solar ($1.46 billion)
Babcock and Brown ($178 million)
EnerDel’s subsidiary Ener1 ($118.5 million)*
Amonix ($5.9 million)
Fisker Automotive ($529 million)
Abound Solar ($400 million)*
A123 Systems ($279 million)*
Willard and Kelsey Solar Group ($700,981)*
Johnson Controls ($299 million)
Schneider Electric ($86 million)
Brightsource ($1.6 billion)
ECOtality ($126.2 million)
Raser Technologies ($33 million)*
Energy Conversion Devices ($13.3 million)*
Mountain Plaza, Inc. ($2 million)*
Olsen’s Crop Service and Olsen’s Mills Acquisition Company ($10 million)*
Range Fuels ($80 million)*
Thompson River Power ($6.5 million)*
Stirling Energy Systems ($7 million)*
Azure Dynamics ($5.4 million)*
GreenVolts ($500,000)
Vestas ($50 million)
LG Chem’s subsidiary Compact Power ($151 million)
Nordic Windpower ($16 million)*
Navistar ($39 million)
Satcon ($3 million)*
Konarka Technologies Inc. ($20 million)*
Mascoma Corp. ($100 million)

List: 36 Of Obama’s Taxpayer-Funded Green Energy Failures

If the MSM were not so completely controlled by the D party, this would be a big story. I bet the NY Times never published this enormous failure...and most of the lib TV networks probably didn't either.

Is it any wonder your regular joe six pack liberal, has no clue what is going on?

Well you should see all the (D)'s that got rich off these failed companies as everyone losses jobs.

They claim to be for the worker, but made sure that they got rich as people were put out of work..

Here is an old article, but the comments still stand now:

Conclusion

As the above discussion implies, the government is not good at determining winners and losers, and favoritism for those with close ties to political figures seems to be present in many of the failures. Further, outside forces pushed DOE loan guarantees to be awarded quickly without sufficient review. American taxpayers’ dollars were being used to support companies that were large donors to President Obama and to other candidates, without garnering any benefits.

Numerous companies went bankrupt despite free or easy money either because their technologies were too complicated, too expensive, or markets were insufficient to support their products. The federal government usually works in a slow and methodical pattern, but that was not to be the case with the Obama Administration’s drive for “green” technology. Changes clearly need to be made during President Obama’s second term, but with little criticism coming from the media, it is highly questionable whether this waste of our hard earned money can be corrected.

Recapping the Obama Administration Green Energy Stimulus Failures - IER

 

[eagle1462010]

A study by the nonpartisan Energy Information Administration shows wind and solar finished in top two among all energy sectors in raking in federal subsidies. In fiscal year 2013, wind subsidies topped $5.9 billion. The solar industry received $5.3 billion.

The solar sector saw the biggest jump in federal subsidies between fiscal years 2010 and 2013 — climbing nearly five-fold, from $1.1 billion to $5.3 billion — “with declining solar costs and state-level policies also supporting additional growth,” the EIA report said.

Solar and wind energy pack a wallop — in federal subsidies - Watchdog.org

 

[gipper]

Many of the alternative energy companies went belly up under Obama and the stimulus..

Evergreen Solar ($25 million)*
SpectraWatt ($500,000)*
Solyndra ($535 million)*
Beacon Power ($43 million)*
Nevada Geothermal ($98.5 million)
SunPower ($1.2 billion)
First Solar ($1.46 billion)
Babcock and Brown ($178 million)
EnerDel’s subsidiary Ener1 ($118.5 million)*
Amonix ($5.9 million)
Fisker Automotive ($529 million)
Abound Solar ($400 million)*
A123 Systems ($279 million)*
Willard and Kelsey Solar Group ($700,981)*
Johnson Controls ($299 million)
Schneider Electric ($86 million)
Brightsource ($1.6 billion)
ECOtality ($126.2 million)
Raser Technologies ($33 million)*
Energy Conversion Devices ($13.3 million)*
Mountain Plaza, Inc. ($2 million)*
Olsen’s Crop Service and Olsen’s Mills Acquisition Company ($10 million)*
Range Fuels ($80 million)*
Thompson River Power ($6.5 million)*
Stirling Energy Systems ($7 million)*
Azure Dynamics ($5.4 million)*
GreenVolts ($500,000)
Vestas ($50 million)
LG Chem’s subsidiary Compact Power ($151 million)
Nordic Windpower ($16 million)*
Navistar ($39 million)
Satcon ($3 million)*
Konarka Technologies Inc. ($20 million)*
Mascoma Corp. ($100 million)

List: 36 Of Obama’s Taxpayer-Funded Green Energy Failures

If the MSM were not so completely controlled by the D party, this would be a big story. I bet the NY Times never published this enormous failure...and most of the lib TV networks probably didn't either.

Is it any wonder your regular joe six pack liberal, has no clue what is going on?

Well you should see all the (D)'s that got rich off these failed companies as everyone losses jobs.

They claim to be for the worker, but made sure that they got rich as people were put out of work..

Here is an old article, but the comments still stand now:

Conclusion

As the above discussion implies, the government is not good at determining winners and losers, and favoritism for those with close ties to political figures seems to be present in many of the failures. Further, outside forces pushed DOE loan guarantees to be awarded quickly without sufficient review. American taxpayers’ dollars were being used to support companies that were large donors to President Obama and to other candidates, without garnering any benefits.

Numerous companies went bankrupt despite free or easy money either because their technologies were too complicated, too expensive, or markets were insufficient to support their products. The federal government usually works in a slow and methodical pattern, but that was not to be the case with the Obama Administration’s drive for “green” technology. Changes clearly need to be made during President Obama’s second term, but with little criticism coming from the media, it is highly questionable whether this waste of our hard earned money can be corrected.

Recapping the Obama Administration Green Energy Stimulus Failures - IER

Yes. It is an old game of racketeering...the Mafia made it famous, now the US government is the world's biggest racketeer.

...and where are the Rs on this terrible corruption? Rather than exposing it, they are trying to enrich themselves too.

If only we could throw all the pols from POTUS on down, in prison.

 

[eagle1462010]

 

[Kosh]

Many of the alternative energy companies went belly up under Obama and the stimulus..

Evergreen Solar ($25 million)*
SpectraWatt ($500,000)*
Solyndra ($535 million)*
Beacon Power ($43 million)*
Nevada Geothermal ($98.5 million)
SunPower ($1.2 billion)
First Solar ($1.46 billion)
Babcock and Brown ($178 million)
EnerDel’s subsidiary Ener1 ($118.5 million)*
Amonix ($5.9 million)
Fisker Automotive ($529 million)
Abound Solar ($400 million)*
A123 Systems ($279 million)*
Willard and Kelsey Solar Group ($700,981)*
Johnson Controls ($299 million)
Schneider Electric ($86 million)
Brightsource ($1.6 billion)
ECOtality ($126.2 million)
Raser Technologies ($33 million)*
Energy Conversion Devices ($13.3 million)*
Mountain Plaza, Inc. ($2 million)*
Olsen’s Crop Service and Olsen’s Mills Acquisition Company ($10 million)*
Range Fuels ($80 million)*
Thompson River Power ($6.5 million)*
Stirling Energy Systems ($7 million)*
Azure Dynamics ($5.4 million)*
GreenVolts ($500,000)
Vestas ($50 million)
LG Chem’s subsidiary Compact Power ($151 million)
Nordic Windpower ($16 million)*
Navistar ($39 million)
Satcon ($3 million)*
Konarka Technologies Inc. ($20 million)*
Mascoma Corp. ($100 million)

List: 36 Of Obama’s Taxpayer-Funded Green Energy Failures

If the MSM were not so completely controlled by the D party, this would be a big story. I bet the NY Times never published this enormous failure...and most of the lib TV networks probably didn't either.

Is it any wonder your regular joe six pack liberal, has no clue what is going on?

Well you should see all the (D)'s that got rich off these failed companies as everyone losses jobs.

They claim to be for the worker, but made sure that they got rich as people were put out of work..

Here is an old article, but the comments still stand now:

Conclusion

As the above discussion implies, the government is not good at determining winners and losers, and favoritism for those with close ties to political figures seems to be present in many of the failures. Further, outside forces pushed DOE loan guarantees to be awarded quickly without sufficient review. American taxpayers’ dollars were being used to support companies that were large donors to President Obama and to other candidates, without garnering any benefits.

Numerous companies went bankrupt despite free or easy money either because their technologies were too complicated, too expensive, or markets were insufficient to support their products. The federal government usually works in a slow and methodical pattern, but that was not to be the case with the Obama Administration’s drive for “green” technology. Changes clearly need to be made during President Obama’s second term, but with little criticism coming from the media, it is highly questionable whether this waste of our hard earned money can be corrected.

Recapping the Obama Administration Green Energy Stimulus Failures - IER

Yes. It is an old game of racketeering...the Mafia made it famous, now the US government is the world's biggest racketeer.

...and where are the Rs on this terrible corruption? Rather than exposing it, they are trying to enrich themselves too.

If only we could throw all the pols from POTUS on down, in prison.

Well about 80% of the media is far left in the US, so it is hard to get the message out when the bulk of the media ignore it. If the media did it's job Obama would never had had a second term.

Voting is supposed to be the way to hold these politicians accountable, but it seems that does not work.

 

[Bleipriester]

MONSANTO ALERT!

MEMC (now: SunEdison)

Under the pressure of Japanese competition, MEMC (Monsanto Electronic Materials Company) was sold to a German company, that sold it for a lousy dollar to the Texas Pacific Group. in 2006, MEMC entered the solar business, making billion worth contracts with various companies and receiving down payments. However, the drop-off in prices almost broke their neck in 2008.
In 2009, they built and sold a photo voltaic field in Germany and purchased SunEdision, the largest operator of solar facilities in northern America. In 2010, MEMC purchased Solaicx. In 2011, they created a joint-venture company with Samsung in Southkorea. In 2013, MEMC renemaed itself into SunEdison. It still is involved in renewable energies under the name Terraform.

www.terraform.com

 

[eagle1462010]

Dedicating this song to the Solar Power Companies.......

 

[gipper]

Dedicating this song to the Solar Power Companies.......

and a really great tune!!! She has a powerful voice.

 

[WheelieAddict]

35% Of Public Oil Companies Could Face Bankruptcy | OilPrice.com

Of course this is different right, the govt needs to step in and help?

 

[eagle1462010]

35% Of Public Oil Companies Could Face Bankruptcy | OilPrice.com

Of course this is different right, the govt needs to step in and help?

I didn't even click the link.................because you are talking about the Fracking industries that are new to the game..........

The mass increase in World Production was designed to do a few things.........

To economically attack Russia.

To drive out the competition.

It hammered Russia and put many of the New Frackers out.............With our government in cahoots with it...........This is completely opposite of the Solar equation were they have thrown Billions upon billions at the industry and they still fail...........yet in Fracking the policy was to help put them out of business..............

They did the same to the LNG industry........They started popping up to challenge the gas prices...........and many built plants that now sit idle.

 

[WheelieAddict]

35% Of Public Oil Companies Could Face Bankruptcy | OilPrice.com

Of course this is different right, the govt needs to step in and help?

I didn't even click the link.................because you are talking about the Fracking industries that are new to the game..........

The mass increase in World Production was designed to do a few things.........

To economically attack Russia.

To drive out the competition.

It hammered Russia and put many of the New Frackers out.............With our government in cahoots with it...........This is completely opposite of the Solar equation were they have thrown Billions upon billions at the industry and they still fail...........yet in Fracking the policy was to help put them out of business..............

They did the same to the LNG industry........They started popping up to challenge the gas prices...........and many built plants that now sit idle.

Like i predicted. It's different because

 

[WheelieAddict]

One-Third of Oil Companies Could Go Bankrupt this Year