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

EB-5 News

Date

Aug 15th, 2020

Category

Legal Drama

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Jason Buback

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Green Card By Investment

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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

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