31 Oct '11, 4pm

Second DOE Loan Recipient Files for Bankruptcy via @reworld

Second DOE Loan Recipient Files for Bankruptcy via @reworld

Beacon Power, like Solyndra, was one of the first loans to close under the Department of Energy’s 1705 loan guarantee program. Now, much like the failed solar panel manufacturer, the Massachusetts-based flywheel storage company has filed for bankruptcy protection and set off another ripple in the growing controversy over the federal program. On Sunday, Beacon Power , which received a $43 million loan guarantee to support the construction of a 20-megawatt flywheel energy storage plant in Stephentown, N.Y., filed for Chapter 11. The flywheel technology at the New York facility was used for load leveling. Essentially, grid operators could dump power into the storage plant when they had too much and pull it back out when they needed more. It remains unclear what will happen to the facility or the technology inside the plant following the bankruptcy. What is certain is that the...

Full article: http://www.renewableenergyworld.com/rea/news/article/2011...

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Second DOE Loan Recipient Files for Bankruptcy

Second DOE Loan Recipient Files for Bankruptcy

renewableenergyworld.com 31 Oct '11, 4pm

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green.blogs.nytimes.com 31 Oct '11, 4pm

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