Renewable Energy Update - September 28, 2011


In This Issue:

Solyndra blames DOE for its demise despite large loan guarantee; RENEWABLE ENERGY FOCUS - Gov. Brown signs three renewable energy measures. Renewables are the world's fastest-growing energy source; Nevada's first wind farm to be largest in U.S. at 990MW; New Jersey surpasses California as largest commercial solar market; Harvesting jet fuel: California farms could grow camelina sativa, a promising biofuel crop; First Solar says plant to miss U.S. loan deadline; Green investors call U.S. loan process rigorous; Constellation to test sorghum biomass for two California plants; U.S. solar capacity expanded by 69% in Q2 2011; Cash strapped California schools seek savings through solar; Demonstration biomass plant in California closes for refinancing; Analysis: More false hope about renewable energies that consumers reject; Wal-Mart plans solar energy at more California stores; NOTABLE RENEWABLE ENERGY PROJECTS AND DEALS - WWEC's 120MW wind project moves along in California. enXco celebrates construction of 102MW California wind farm; Biomass fueled power plant coming to Otay Mesa; and New kind of 40% efficient solar farm gets $90M DOE loan guarantee.

Solyndra blames DOE for its demise despite large loan guarantee

New York Times - Sep 21

In announcing that Solyndra executives would invoke their Fifth Amendment rights when they appear before Congress, a spokesman for the bankrupt solar energy company laid the blame for its demise at the feet of the same Department of Energy that invested $527 million into the failed enterprise. Spokesman David Miller wrote that, at the same time Solyndra was building out the production facility that its hefty DOE loan guarantee had helped fund, the landscape for its solar photovoltaic panels was in flux. Miller noted that those conditions led to an oversupply of solar panels worldwide, which had a substantial impact on pricing for the company's panels and Solyndra's ability to ramp up its sales.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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