Another Solar Company Goes Bust – Got $26 Million in State Loans
It’s an Obama world.
Another solar plant that got $26 million in loans went bust this week.
Mississippi taxpayers may have only an empty Senatobia building and some solar panel equipment to show for nearly $26 million in loans provided to Twin Creeks Technologies.
The California-based solar technology firm is liquidating, and a company that bought Twin Creeks’ assets does not intend to take over its agreement with Mississippi. The contract called for Twin Creeks to invest at least $132 million and create at least 500 jobs.
The Mississippi Development Authority’s Kathy Gelston says officials are negotiating for Twin Creeks to repay aid above the value of the building and equipment.
The Director of Twin Creek Technologies donated $1,000 to Obama’s campaign this year.