Bioenergy Renewable tyranny, Abengoa files Bankruptcy

[elektra]

In the never ending list of Renewable Energy failing, the Spanish Giant which received billions in U.S. taxpayers money has filed for Bankruptcy.

The assets will be sold off for pennies on the dollar, taxpayers will be stuck footing the bill, and the new owners will be able to operate the plants not encumbered with the huge mountain of debt needed to implement an old technology that can not compete against the modern marvels of the 20th century let alone the 21st century.

Abengoa: Another Story Of Sudden Insolvency | The Corner


Abengoa: Another Story Of Sudden Insolvency
TOPICS:AbengoaAbengoa BankrupcyAbengoa InsolvencyBankrupcy In SpainPescanova

POSTED BY: FERNANDO BARCIELA 30TH NOVEMBER 2015

Fernando Barciela | Throughout this current year, 99 companies across the world have defaulted, the second highest figure in the decade after the 2009 crisis, according to S&P. Spanish firm Abengoa could be added to the list.

Everyone with inside knowledge in Spain knew that Abengoa had some financial troubles: but this didn’t mean they bet the company would find itself, as it has done, in such a serious situation as pre-insolvency protection. Or even end up being the largest bankruptcy in Spanish history.

Another person who didn’t expect such a terrible outcome is Obama. His administration awarded the company about $2.7 billion for two majors projects — the Solana Generating Station in Arizona and the Mojave Solar Project in California. Republicans and other critics of renewables were short of time to remind Obama of his previous failure with Solyndra in 2011. This left taxpayers responsible for more than $530 million. These people reminded the President that the administration’s meddling in the energy sector leads to disaster for taxpayers.

 

[elektra]

We are looking at a $10 Billion dollar waste of money, which could of built 1 Westinghouse AP1000, which in turn would be an asset, turning a profit, instead of a loss.

 

[SassyIrishLass]

Anyone have a reliable figure for how much this green bullshit has cost the American taxpayer?

 

[SassyIrishLass]

Well OK then, only a measly 154 billion....good grief

Fail: US Has Wasted $154 Billion on 'Renewable Energy' - Breitbart

 

[IcebergSlim]

Here's a "meeting of the minds"......

154 billion is equivalent to one year in Iraqnam.......It wouldn't take much to generate a higher return on investment than that....

 

[IcebergSlim]

In 2011, solar panel company Solyndra defaulted on a $535 million loan guaranteed by the Department of Energy. The agency had a few other high-profile bankruptcies, too — electric car company Fisker and solar company Abound among them. But now that loan program has started turning a profit.


Overall, the agency has loaned $34.2 billion to a variety of businesses, under a program designed to speed up development of clean-energy technology. Companies have defaulted on $780 million of that — a loss rate of 2.28 percent. The agency also has collected $810 million in interest payments, putting the program $30 million in the black.


When Congress created the loan program under the Energy Policy Act of 2005, it was never designed to be a moneymaker. In fact, Congress imagined there would be losses and set aside $10 billion to cover them.

After Solyndra Loss, U.S. Energy Loan Program Turning A Profit

 

[Old Rocks]

There are many states now producing significant amounts of mW's with wind, soon there will be many doing the same with solar. Texas and Oklahoma are leading wind producers, Texas and North Carolina are showing the way on solar.

 

[Old Rocks]

The cost of nuclear and the problem of waste will continue to prevent it from being a major future player.

 

[elektra]

There are many states now producing significant amounts of mW's with wind, soon there will be many doing the same with solar. Texas and Oklahoma are leading wind producers, Texas and North Carolina are showing the way on solar.

Good, now we do not need any more Wind Turbines, they finally produce a significant amount of energy, right!

 

[Old Rocks]

Huge U.S. coal company declares bankruptcy

One of the nation’s largest coal companies, Arch Coal, filed for bankruptcy Monday, making it the second company with large Western mines to seek Chapter 11 restructuring in recent months.

The St. Louis-based company announced that it expects to continue to operate its mines and pay its 4,600 employees while it seeks a bankruptcy court’s approval for its debt restructuring. Arch said its lenders had agreed to reduce its debt by more than $4.5 billion, but that deal would have to be approved by the court.

Responding to its employees’ and retirees’ fears, Arch said it does not anticipate major layoffs or disruptions to its pensions due to the bankruptcy. But it conceded that market conditions may impact staffing. The company operates two surface mines in Wyoming’s Powder River Basin as well as the underground West Elk mine in Somerset, Colorado. It has proposed opening a surface mine in southeastern Montana, the Otter Creek project. It also has mines in Appalachia and Illinois.

And Peabody Coal Company is in dire straits.

 

[Old Rocks]

10 things you should know about wind power in the U.S.

The Department of Energy has a new report out on the trends, costs and players in the U.S. wind industry, which is the second largest in the world.

It’s cheaper than at any time in history to build big wind farms in gusty areas of the U.S., like Texas, Iowa and South Dakota, according to a new report from the Department of Energy.

Those low prices helped delivered a solid year of new wind farms in 2014, and that growth is expected to continue this year and next. However starting in 2017, thanks to the loss of a federal subsidy, the low price of natural gas, and slow growth in electricity demand, wind farms could have an uncertain future.


Here are 10 things you should know about wind power in the U.S.:

1). Lots of new wind farms last year: There were 4.85 gigawatts of new wind power added in 2014, which was 8% growth from the amount installed in 2013. There were about 7 gigawatts of new solar installed last year. One gigawatt is about the size of a new large natural gas plant.

The total amount of wind farm capacity in the U.S. grew to 65.88 gigawatts. In terms of volume, the U.S. is the second largest wind market in the world (behind China), and wind was the third largest new source of electricity in the U.S. last year after natural gas and solar.

But including the amount of wind farms deployed by the end of 2014, the U.S. only gets 4.9% of its electricity from wind. At the same time Denmark gets almost 40% of its electricity from wind, while Spain and Ireland get about 20% of their electricity from wind.

Wind is being installed by the gigawatt. As is solar and natural gas. Coal is dying, and doing so very quickly. As the grid scale batteries come online, even natural gas will decline. Win-win for all.

 

[elektra]

10 things you should know about wind power in the U.S.

The Department of Energy has a new report out on the trends, costs and players in the U.S. wind industry, which is the second largest in the world

Wind is being installed by the gigawatt. As is solar and natural gas. Coal is dying, and doing so very quickly. As the grid scale batteries come online, even natural gas will decline. Win-win for all.

No, wind is installed by the kwh. Nuclear power is installed by the gwh, or gigawatt.

Old Crock is one of the more notable liars on the board.