Portland’s “Green Energy” Failure

Source: Portland’s “Green Energy” Bailout Continues

No money for pot holes or rape kit testing, but there is plenty of money for green fantasy jobs.

“A ….promise of green jobs will cost the City of Portland $5 million after defaulting on a $10 million state loan.

Portland paid millions to lure SoloPower Systems to the city but will now have to pay much of the $8.1 million left on a state loan the company failed to pay. The Portland Business Journal reported Wednesday that the company defaulted on a $10 million loan from the Oregon Department of Energy. It stopped making payments in September. Portland made two payments of $119,000 toward the loan in April and May, said Oregon Department of Energy spokeswoman Rachel Wray.

Portland will now have to make $119,000 monthly payments toward the company’s debt through October 2020 because former Mayor Sam Adams agreed in 2011 to guarantee $5 million of the state loan.”

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This entry was posted in Crime, Darwin Award Nominee, debt, Energy, government, Green Energy, oregon, politics. Bookmark the permalink.

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