Wednesday, January 18, 2012
Oregon taxpayers will have to bail out a state fund that made bad loans to risky renewable energy projects.
The fund loaned $18 million to a Clatskanie ethanol plant that quickly went bankrupt, $12.1 million to a Linn County solar company crippled by plunging global prices, and $1.4 million to a glitzy central Oregon resort plagued by the real estate crash.
In all, state officials estimate the Oregon Energy Department's Small Scale Energy Loan Program will cost the Oregon general fund, and taxpayers, as much as $20 million over five years.
Read more at OregonLive.com.