……….we’ll Laugh Everyday. We’ll sing in the Sunshine, Then I’ll be on my Way”. (Gale Garnett 1964). Sounds like the theme song for the exploding Solar Industry. Without much exception, these companies seem to sing a song to beg for funding, Laugh all the way to the Bank with DOE/Taxpayer monies, and then Be on their Way to Bankruptcy. My home state of Nevada is the newest “IN-celestial” Solar scam outside the long struggling former Boom Town, Tonopah, NV.
Tonopah Solar Energy, a subsidiary of SolarReserve, was guaranteed a loan of $737 Million by the DOE, as if a Half a Billion to Solyndra wasn’t bad enough. The project is known as Crescent Dunes and will be constructed by Cobra Thermosolar . Part of the financing was secured by an Asset Managing company, Pacific Corporate Group, (PCG) based in LaJolla, CA. and just happens to have a Ron Pelosi, on the payroll. If the name sounds familiar, he is the brother-in-law to the House Minority leader, Nancy Pelosi. More on this later.
Along with PCG, is another investor called Argonaut Private Equity, (APE) who was also involved with the $500 million bankruptcy of Solyndra. And what do you know, yet another name from the past appears, Steve Mitchell, who is a Managing Director of APE is also listed as a Director of Solyndra when it went down in Bankruptcy Flames.
Ron Pelosi , is not just the Bro-in-Law of Nancy, but has held many state wide positions in the State of California. His Nephew, step son of Nancy, is Gavin Newsom, former mayor of San Francisco and current Lieutenant Governor of California, being groomed to occupy Schwarzenegger’s old residence. The Company that Ron Pelosi works for has had some serious integrity troubles in recent years and was fined heavily in New York State for a “Pay for Play” scam. Allegedly, a man named Henry Morris, who has been criminally charged, had some sort of 5% “mystery” money connected to a $750 Million deal with The Clinton Group, a hedge fund for the (NY) State Common Retirement Fund. In July, 2009, Attorney General Cuomo secured an agreement with PCG to adopt a “Code of Conduct” and eliminate the “Pay-to-Play” regarding Pension Funds. PCG agreed to return $2 million back to the States’ Common Retirement Fund. This was known as The Public Pension Fund Reform Code of Conduct. Apparently the folks at PCG need to buy a dictionary because they just didn’t know what those words really mean.
CalPERS stands for California Public Employees Retirement System. Guess who was handling over $2.5 Billion in assets for this fund,? Yep, Pacific Corporate Group. Looks like they had their fingers crossed when they signed that pesky little Pension Fund Reform way back in 2009. Maybe they didn’t think it was important enough to actually take to heart, because they got involved with a man named Alfred J.R. Villalobos who is connected to fraud at CalPERS. They have been replaced by 2 other companies.
With a population of less than 3000, Tonopah needs a new Hey-day. It’s a shame that almost without exception, these Solar Farm deals are rancid with Crony Corruption. A little south on Tonopah, in Amargosa Valley, a Company called Solar Millinneum AG has been pushing for their 4500 acre project since 2006. They won approval this year and have a 2 Year time frame to start the project. Following the pathway of every other Solar Project , controversy has reared it’s head. According to Solar Thermal Magazine from Sept 28, 2011, Hannes Kuhn, informed the directors that he was resigning immediately from the Advisory Board for personal reasons. The article referenced that Mr Kuhn’s relationship with the company was “strained” .
Almost finished. Two weeks later, according to my hometown newspaper, The Pahrump Valley Times, a German Company , Solarhybrid AG has acquired the Amargosa Valley Project. Solar Millennium applied it’s $2.1 Billion funding for a large Solar Project in Blythe, CA.
How can I get in on this. I have ideas. I need money. Why can’t I get some $$$$ to fund my projects? I’ll put the word “Solar” in and have a theme song. “You are my Sunshine, My Only Sunshine. You make me Happy, When Skies are Gray…………….”
Please CLICK the highlighted words , they have all the references and back up for this writing.