Crony Socialism: Obama Gives $737 Million to Solar Firm Linked to the Pelosi Clan

Posted on September 28, 2011

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California (Jim Hoft – The Gateway Pundit) – It’s as if Solyndra never happened. The Obama Administration is giving $737 million to a Tonopah Solar, a subsidiary of California-based SolarReserve. PCG is an investment partner with SolarReserve. Nancy Pelosi’s brother-in-law happens to be the number two man at PCG.

Obama admires solar panels during a trip to Florida.

Team Obama is spending $737 million to create 45 permanent jobs.
The Hill reported, via Free Republic:

The Energy Department announced Wednesday that is has finalized a $737 million loan guarantee for a Nevada solar project.

The decision comes several weeks after a California-based solar manufacturer that received a $535 million loan guarantee from the Obama administration in 2009 filed for bankruptcy and laid off 1,100 workers, setting off a firestorm in Washington.

The $737 million loan guarantee will help finance construction of the Crescent Dunes Solar Energy Project, a 110-megawatt solar-power-generating facility in Nye County, Nev. The project is sponsored by Tonopah Solar, a subsidiary of California-based SolarReserve.

Crescent Dunes is the latest solar project to receive a loan guarantee from the Energy Department in recent weeks. The department announced a $1.2 billion loan guarantee to Abengoa Solar for a solar generation project in California and a $150 million loan guarantee to 1366 Technologies for a Massachusetts solar manufacturing project earlier this month.

The Energy Department says the project will result in 600 construction jobs and 45 permanent jobs.

Source for story:     http://www.thegatewaypundit.com/2011/09/more-crony-socialism-obama-gives-737-million-to-pelosis-brother-in-laws-solar-firm/