I wonder whether this will also finally get some sunlight on the mysterious Delaware registered highly secretive partner of King's in this deal - "Bayroot", perhaps named after the college drinking game of same name. Of course that just might make sense as after a couple years or so it was finally revealed who this company was - the ultra well endowed Yale University Endowment Fund.
Like they needed Joe and Jane Taxpayer to guarantee them that they couldn't lose?
Funny too how Yale prides itself as a savior of the planet and behind the shroud of their Bayroot shell, they are a truly savage clear cutter.
Just a day after Angus King announced he was divesting his stake in his wind energy company, a Congressional Oversight Committee has called into question the basis for a $102 million loan guarantee granted to King’s Record Hill Wind project.
The U.S House of Representatives Committee on Oversight and Reform yesterday released an extensive report on questionable funding for projects authorized through the U.S. Department of Energy. The report, titled “The Department of Energy’s Disastrous Management of Loan Guarantee Programs”, reveals that the Record Hill project received a loan guarantee based on “questionable reasoning” by King’s company.
From the report:
“After conducting a substantial review of the Department of Energy’s (DOE) loan guarantee program, it is clear that the significant losses absorbed by taxpayers as a result of Solyndra’s collapse is just the beginning. The investigation conducted by the House Committee on Oversight and Government Reform has uncovered numerous examples of dysfunction, negligence and mismanagement by DOE officials, raising troubling questions about the leadership at DOE and how it has administered its loan guarantee programs.”
The report shows that the Department of Energy (DOE) “approve[d] Record Hill Wind’s $102 million loan guarantee project as “innovative,” despite the project using commercial technology. DOE knew that the Record Hill project did not use significantly innovative technology.”
“the Record Hill Wind project attempted to categorize minor modifications to existing commercial technology as “innovativeness.” DOE eventually agreed with Record Hill Wind’s questionable reasoning”
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