The owner of a Nevada solar farm financed with government backing filed for chapter 11 bankruptcy, proposing to repay taxpayers less than half of what they are owed on $425 million in outstanding public debt used to build the project.
Under the proposed deal, the U.S. government would lose as much as $225 million on a federal loan guarantee issued in 2011 for the Crescent Dunes solar project, which once touted itself as cutting-edge but turned out to be obsolete before it ever turned on.
..."lose" - Google News
July 31, 2020 at 04:40AM
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Energy Department Poised to Lose Up to $225 Million on Solar Project Bankruptcy - Wall Street Journal
"lose" - Google News
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