Lights out for massive government-backed solar energy project built with $170 million of EB-5 money

  • Written by GCBI Team Posted on August 14, 2020 | Updated on August 14, 2020 | 1 min read

The Tonopah solar farm in the Nevada Desert has filed for bankruptcy. It was built with a $737 million loan from the U.S. Department of energy; CMB Regional Centers sponsored the project that raised $170 million in EB-5 capital. The project was touted as a state-of-the-art operation, but the plant was plagued by technical problems and reached only a fraction of its capacity before being shut down in 2019.

Read the Sovereign Wealth Fund Institute article