Rio Rancho Solar Plant on Hold

Reality intrudes.  Where’s the money?  Cut through the hype, the warm fuzzies of “green jobs,” and you still need money, lots of it.  There’s lots of gullibility in the mix–from Bill Richardson to Jeff Bingaman to the city fathers of Rio Rancho–what’s missing is real money. New Mexico Watchdog still on the trail of Green2v and the elusive half a billion dollar letter of credit that’s not worth the paper….. Well, you know how that sentence finishes.

Mystery Surrounds Backers of $500 Million Bonds for Rio Rancho Solar Start-Up

What kind of an outfit presenting a $500 million letter of credit has its “corporate offices” in a UPS store on the west side of Sin City?  The kind of outfit that is part of the team behind the effort to get Rio Rancho to issue half a billion in industrial revenue bonds to launch solar start-up Green2v.  Eclipse Aviation on steroids?  There are some mighty strange things in this story we report at New Mexico Watchdog.