Another Obama-Funded Green Company Failing
Surely we could eliminate crap like this in the sequester.
Oregon and Portland, where the factory sits, approved nearly $58 million in incentives — loans, tax credit and other tax breaks — to attract SoloPower a few years ago, when the company was looking for a place to build its first factory. Before that, the company had a pilot production line at its headquarters.And another one bites the dust.
SoloPower also snagged a $197 million federal loan guarantee in a program designed to promote clean power generation and job creation. The company wouldn’t be able to make use of that loan guarantee unless it could get its first production line at the new factory up and running, however.
The company’s CEO, Tim Harris, was full of optimism when I spoke with him last September. The company was about to mark the official start of the 100-megawatt factory, and Harris told me that he had a good number of orders waiting to be filled and expected the company to be profitable in 2013.