Owner Of Troubled $1B Solar Project Hits Ch. 11 In Del.

Law360 (July 30, 2020, 11:39 AM EDT) -- The owner of a federally funded, nonoperational $1 billion solar energy project in Nevada that has been beset with operational problems hit Chapter 11 in Delaware on Thursday, saying roughly $430 million in secured debt is owed to the federal government.

Tonopah Solar Energy LLC, which operates a net 110-megawatt concentrated solar energy power plant known as the Crescent Dunes Solar Energy Project, said it hit Chapter 11 with a restructuring support agreement in place with stakeholders by which the U.S. Department of Energy will receive $200 million on the effective date of the restructuring plan along with a $100 million...

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