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Taxpayers in 3 counties could be on hook for millions after solar project fizzles
New Jersey carried Obama twice. They can damn well carry his debt.Like everything else, the Democrats want us to be more like Europe. Including the failed solar projects... [NJ] The concept behind the massive solar project sounded simple enough: borrow $88 million to install panels on public buildings in Morris, Somerset and Sussex counties and then sell excess electricity, using the revenues to pay off the debt. The concept was called the "Morris model," held up nationally as an example of how to produce renewable energy through public-private partnerships. It was the second project of its kind and the previous one was hailed as a success. But now, nearly four years later, taxpayers could be on the hook for tens of millions of dollars the counties owe bondholders, after work ground to a halt amidst cost overruns and lawsuits. Posted by: Fred 2015-02-16 |
| http://www.rantburg.com/poparticle.php?ID=410831 |