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Wednesday, August 31, 2011

Kickbacks?: Company of CEO on Presidential Jobs Council Gets Partial Loan Guarantee For $852 Million Dollar Solar Project on Gov Land

The speed at which Obama is pushing his plan to Transform the economy is evident in the daily news. But what has not been as evident are the possible kickbacks that may be involved in that Transformation.

According to Brigtherenergy.org, the Department of Energy (DOE) has finalized a partial loan guarantee for an $852 Million dollar loan for a solar thermal project in California that is coincidentally on Government Land:

"The US Department of Energy has finalized a partial guarantee for an $852 million loan to support the development of a major solar thermal project being developed in California.

The Genesis Solar Project is a 250 megawatt (MW) parabolic trough concentrating solar power (CSP) facility that will increase the nation’s currently installed CSP capacity by about 50 percent.

NextEra Energy Resources, LLC, the project sponsor, estimates it will fund approximately 800 construction jobs and 47 operating jobs.

The project is located on land managed by the Bureau of Land Management in Riverside County, California.

“This project creates jobs, avoids greenhouse gas emissions and helps strengthen our nation’s renewable energy future,” said Energy Secretary Steven Chu. “With the support of loan guarantees, we will enable the deployment of clean, renewable sources at scale, which will help bring down the cost of solar power in the years to come."

NextEra's CEO, the company that just received the loan guarantee from the DOE, is a man named Lewis Hay.

Lewis Hay, or Lew as he is also called, just happens to be on President Obama's Council on Jobs and Competitiveness.

NextEra also happens to be the largest clean energy company in North America with over 15,000 employees in 28 states and Canada who just happened to pull in over $15 Billion Dollars in revenues in 2010.

So all of these facts begs the question.

Why does the largest Clean Energy Company in North America that has over $15 Billion Dollars in revenues need the Department of Energy to back an $852 Million Dollar loan for their solar project that is going to be built on Government land?

Is all of this just a coincidence..?

Or a Kickback?


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