Old Rocks
Diamond Member
Don't get me wrong - "green" energy is a great concept. But so is cold fusion, automobiles that run on water, and a world without wars. Unfortunately, all of them are absurd pipe-dreams at this time.
The problem with "green" energy is the cost/benefit ratio. You have to spend millions of dollars to get the energy equivalent of a AAA battery (I'm exaggerating obviously but sadly not by a whole lot). Which makes it an unsustainable business venture. The federal government illegally invested half a billion dollars into Solyndra and they still went bankrupt.
Now, the world's largest renewable energy developer is also on the verge of bankruptcy as well. The government needs to get out of the green energy business and allow the private sector to fund all research and development. We're $19 trillion in debt because of illegal nonsense like that, and we can't afford to keep betting on a loser. Some day, technology will advance to the point where green energy will be a viable and brilliant solution. But that time is not now and pumping billions of dollars a year for over 4 decades now has yielded no ROI (and even if it had, it is still unconstitutional and that is all that matters).
World's largest renewable energy developer on verge of bankruptcy
World's largest renewable energy developer on verge of bankruptcy
The world's largest renewable energy developer, SunEdison, may be on the verge of filing for bankruptcy protection after it was revealed that it is reportedly being investigated for overstating its financial stability
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SunEdison has had an aggressive acquisition history, but those buyouts have left it with $11 billion in debt, Reuters reported.
"SunEdison is having more than its share of troubles," Deutsche Bank wrote in an announcement that it was suspending its ratings of both SunEdison and its subsidiary, TerraForm Global.
TerraForm Global announced its 10K filing would be delayed due to SunEdison's financial reporting issues. TerraForm's annual report was to be filed by Wednesday.
Nothing to do with renewable energy, but with the management biting off more than it can chew.
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