Del. Court Confirms $1B Nev. Solar Plant's Ch. 11 Plan
Law360 (December 3, 2020, 9:36 PM EST) -- A bankrupt, $1 billion effort to build a 110-megawatt "molten salt" power tower secured confirmation of its Chapter 11 plan in Delaware late Thursday, moving forward a private deal to partially repay taxpayers and repair the idled Nevada generating plant.
U.S. Bankruptcy Judge Karen B. Owens found Tonopah Solar Energy LLC's plan feasible, despite uncertainties about the long-term success of Crescent Dunes Solar Energy Project and the challenges raised by two creditors throughout the case and during confirmation.
"Feasibility does not need to require a guarantee of success" under the Bankruptcy Code, Judge Owens noted, "but rather, only that I must...
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