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John Von Stach VSP North America

In America, bankruptcy does not necessarily mean the end for a company, so perhaps “insolvency” is only a temporary detour, but it certainly falls well below the description of a successful company. Here at home, that raises concerns over the company’s U.S. division, SolarWorld America, Inc., which operates a $600 million panel plant in Hillsboro, Oregon. Democrat Gov. Ted Kulongoski praised the plant as an economic development beacon “in the Silicon forest” during a ribbon-cutting ceremony, also attended by Democrats Sen. Ron Wyden and then-Rep. David Wu. The facility was purchased in 2007 from Japan’s Komatsu Group, and by 2012 had collected $57 million in Business Energy Tax Credits from the state. Reports say it now has received $100 million in tax breaks just from state and local governments. It also benefitted from a $4 million grant from Barack Obama’s Department of Energy. SolarWorld notes, however, that despite its problems in Germany, the Hillsboro plant that employs 800 people continues to operate. The question now is how long before the Oregon plant, which its previous owner wanted rid of, joins the infamous Solyndra and Solar Trust green energy fiascos that cost U.S. taxpayers billions of dollars? Across the country in Rhode Island a new offshore wind farm just went online last week. The five-turbine farm cost $300 million and currently powers just 2,000 homes, which works out to a bargain-basement price of only $150,000 per household .

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John Von Stach VSP North America

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John Von Stach VSP North America

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