Saturday, June 17, 2017

Portland to foot SoloPower's bill after company defaults on $10 million loan

Via Billy

Portland is stuck paying $5 million on a loan that SoloPower Systems failed to pay after promising green jobs to the city.

A company once pursued for its promise of green jobs will cost the City of Portland $5 million after defaulting on a $10 million state loan.

Portland paid millions to lure SoloPower Systems to the city but will now have to pay much of the $8.1 million left on a state loan the company failed to pay. The Portland Business Journal reported Wednesday that the company defaulted on a $10 million loan from the Oregon Department of Energy.
It stopped making payments in September. Portland made two payments of $119,000 toward the loan in April and May, said Oregon Department of Energy spokeswoman Rachel Wray.


  1. Ha ha ha.....couldn't happen to a nicer town. Stupid liberals.

  2. It seems the green in "green energy," is the money stolen from taxpayers.


  3. I really like green stuff, but I'm a bit jaded by all the dishonesty.

    1. Dishonesty in the government? Oh my, bite your tongue..........:)