Oregon energy loans under scrutiny

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Friday, February 08, 2013

State Sen. Richard Devlin wants the Legislature to investigate a popular state loan program that made a series of bad loans.

A report issued by the State Debt Policy Advisory Commission last week said losses in the Small Scale Energy Loan Program could force the state to infuse it with as much as $25 million in taxpayer money to buffer it against future losses on bad loans.

Sen. Richard Devlin, D-Tualatin, who co-chairs the powerful Ways and Means Committee, said the program veered off course when it strayed from its focus on low-risk energy efficiency loans to cities and counties and started loaning money to high-risk startups like ReVolt.

Read more at Sustainable Business Oregon.

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