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Author Topic: Solar Company That Received $3 Billion Biden Loan Warns It Might Go Bankrupt  (Read 649 times)

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Offline rangerrebew

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Solar Company That Received $3 Billion Biden Loan Warns It Might Go Bankrupt
« on: March 05, 2025, 05:44:17 am »
Solar Company That Received $3 Billion Biden Loan Warns It Might Go Bankrupt
Sunnova Energy received the largest federal loan to a solar company in history

Alana Goodman
March 3, 2025

A politically connected solar company says it has "substantial doubt" it can stay in business, a little over a year after obtaining a $3 billion loan from the Biden administration.
 
Sunnova Energy said on Monday that its current finances are "not sufficient to meet obligations and fund operations for a period of at least one year from the date we issue our consolidated financial statements without implementing additional measures."

"Therefore, substantial doubt exists regarding our ability to continue as a going concern for a period of at least one year from the date we issue our consolidated financial statements," the company said in a statement on Monday.

Sunnova’s stock plunged over 70 percent following its announcement, according to Bloomberg.

https://freebeacon.com/energy/solar-company-that-received-3-billion-biden-loan-warns-it-might-go-bankrupt/
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Online Smokin Joe

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Re: Solar Company That Received $3 Billion Biden Loan Warns It Might Go Bankrupt
« Reply #1 on: March 05, 2025, 05:46:29 am »
Smells like a Solyndra. Makes me wonder if some of that money didn't get skimmed/siphoned off/kicked back?
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Offline GtHawk

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Re: Solar Company That Received $3 Billion Biden Loan Warns It Might Go Bankrupt
« Reply #2 on: March 05, 2025, 03:23:22 pm »
Well Bye!  Sorry no more taxpayer money to subsidize democrats and off shore bank accounts. If you can’t make money scamming people with solar you don’t deserve to be in business.
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Online Smokin Joe

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Re: Solar Company That Received $3 Billion Biden Loan Warns It Might Go Bankrupt
« Reply #3 on: March 05, 2025, 04:25:41 pm »
Funny how the solar stops working when you let some sunshine in...
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How God must weep at humans' folly! Stand fast! God knows what he is doing!
Seventeen Techniques for Truth Suppression

Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

C S Lewis

Offline GtHawk

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Re: Solar Company That Received $3 Billion Biden Loan Warns It Might Go Bankrupt
« Reply #4 on: March 05, 2025, 05:01:35 pm »
Quote from: Smokin Joe on March 05, 2025, 04:25:41 pm
Funny how the solar stops working when you let some sunshine in...
My daughter and SIL looked into solar for their new house, they had it in the 9ld one and actually made out pretty good, but now in California with all the BS and SCE penalizing you for sending to much excess to the grid they found that over the course of a year they would only save about $500.
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Offline IsailedawayfromFR

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Re: Solar Company That Received $3 Billion Biden Loan Warns It Might Go Bankrupt
« Reply #5 on: March 05, 2025, 05:08:27 pm »
Quote from: Smokin Joe on March 05, 2025, 05:46:29 am
Smells like a Solyndra. Makes me wonder if some of that money didn't get skimmed/siphoned off/kicked back?
A lot worse than Solyndra.

Solyndra lasted 2 years with $535million in loans.

This is 5x-6x that amount in only a year.
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Offline GtHawk

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Re: Solar Company That Received $3 Billion Biden Loan Warns It Might Go Bankrupt
« Reply #6 on: March 05, 2025, 05:27:31 pm »
Quote from: IsailedawayfromFR on March 05, 2025, 05:08:27 pm
A lot worse than Solyndra.

Solyndra lasted 2 years with $535million in loans.

This is 5x-6x that amount in only a year.
Don’t forget, that 535 mil wasn’t the end of soaking the taxpayer, we were on the hook for all the hazmat cleanup too!
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Offline Wingnut

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Re: Solar Company That Received $3 Billion Biden Loan Warns It Might Go Bankrupt
« Reply #7 on: March 05, 2025, 05:31:01 pm »
Bidens Folly.  I bet Joe got a piece of the solar action.  The guy was so crocked he could hide behind a cork screw.
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Offline libertybele

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Re: Solar Company That Received $3 Billion Biden Loan Warns It Might Go Bankrupt
« Reply #8 on: March 05, 2025, 05:33:36 pm »
Quote from: GtHawk on March 05, 2025, 05:27:31 pm
Don’t forget, that 535 mil wasn’t the end of soaking the taxpayer, we were on the hook for all the hazmat cleanup too!

 **nononono* **nononono*
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Offline Free Vulcan

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Re: Solar Company That Received $3 Billion Biden Loan Warns It Might Go Bankrupt
« Reply #9 on: March 05, 2025, 06:24:39 pm »
How much went to the global transgender movement?
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Offline DefiantMassRINO

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Re: Solar Company That Received $3 Billion Biden Loan Warns It Might Go Bankrupt
« Reply #10 on: March 05, 2025, 07:08:04 pm »
So, an unprofitable business is going bankrupt.  That's survival of the fittest at work in a private, competitive, capitalist economy.

The Government should stop subsidizing unprofitable businesses.  Those subsidies distort the private markets and interfere with the natural processes of supply and demand.

If there is insufficient demand for an unprofitable company's product, they should go bankrupt.  That is the most natural and efficient outcome.

In the Fall, deciduous trees shed the leaves that consume more than they produce.  If the deciduous trees don't shed unprofitable/ unproductive leaves, they will starve to death during the Winter.  That's how Nature and natural economics work; that's how things in the Natural World survive.
« Last Edit: March 05, 2025, 07:09:01 pm by DefiantMassRINO »
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Offline dfwgator

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Re: Solar Company That Received $3 Billion Biden Loan Warns It Might Go Bankrupt
« Reply #11 on: March 05, 2025, 07:10:41 pm »
And to think that money could have gone to Ukraine.
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