View Full Version : Solar Millennium files for bankruptacy

03 April 2012, 1422
First in Europe in December and now in the U.S. in April. My newspaper reports that Oakland-based (German-owned) Solar Millennium, Solar Trust of America and a group of affiliates, filed for bankruptcy on Monday to reorganize their finances "in another meltdown of a Bay Area solar company". Solar Millennium is building one of the largest solar projects in the world, a 7,000-acre complex near the town of Blythe in Riverside County.

Solar Millennium and the affiliated companies listed combined debts of up to $500 million and combined assets of no more than $100 million, according to papers filed with the U.S. Bankruptcy Court in Delaware.

It sure doesn't sound like solar power companies are very good investments. Another victim of a Government grant? :rolleyes: