by Aubrie Spady
Fox News
The Obama administration gave Ivanpah $1.6 billion in loan guarantees
A major solar power plant project that was granted over a billion dollars in federal loans is on the road to closure, with energy experts blasting the project as a “boondoggle” that harmed the environment.
In 2011, the U.S. Department of Energy (DOE) under former President Barack Obama issued $1.6 billion in loan guarantees to finance the Ivanpah Solar Power Facility, a green energy project that consists of three solar concentrating thermal power plants in California.
The facility was touted by then-Secretary of Energy Ernest Moniz as an “example of how America is becoming a world leader in solar energy.” But after 10 years, the federally funded plant is now on track to close…
“Green projects have a long history of expensive taxpayer-subsidized disaster that is getting more so,” Steve Milloy, senior fellow at the Energy & Environmental Legal Institute and former Trump EPA transition team member, said in a statement to Fox.
Milloy suggested that further green energy failures could come from projects funded by recent Democrat-backed legislation that aims to push the green energy agenda.
“Soon we will be looking at failures of larger magnitude than Green New Deal spending. No green project relying on taxpayer subsidies has ever made any economic or environmental sense,” Milloy said. “It’s important that President Trump stop the taxpayer bleeding by ending what he accurately calls the Green New Scam.”
