Russ Steele
Another one of Obama's green pets files for bankruptcy. Details in the Boston Herald here.
Evergreen Solar Inc., the Marlboro clean-energy company that received millions in state subsidies to build an ill-fated Bay State factory, has filed for bankruptcy.
Evergreen, which closed its taxpayer-supported Devens factory in March and cut 800 jobs, has been trying to rework its debt for months. The company announced today it is seeking a reorganization in U.S. Bankruptcy Court in Delaware and also reached a deal with certain note holders to restructure its debt and sell off certain assets.
Now you can see why investors are turning way from renewable energy. These companies are build on a soft government subside foundation, a foundation that is crumbling in real time while we watch. Run Bertha, Run