Thursday, October 20, 2011

LA Times praises the federal government for risking $7 billion in the solar industry in an attempt to create "an additional 250 permanent jobs"

Despite Solyndra's collapse, other government bets pay off | Seattle Times Newspaper
SACRAMENTO, Calif. — As Republican lawmakers pound the Obama administration for pouring a half-billion dollars into now-bankrupt solar-panel maker Solyndra, a much bigger federal bet on green energy looks to be quietly paying off for California.

Six large solar-power plants to help the state meet its ambitious clean-electricity goals are proceeding on schedule, according to their developers. Like Solyndra, these projects carry federal loan guarantees — $7 billion worth in total — which are considered key to attracting private investment in alternative energy.

The plants are expected to create nearly 4,000 construction jobs over the next five years and an additional 250 permanent jobs after they're up and running.

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