Companies have placed high-risk wagers with Mississippi tax dollars on green energy. Now, those bets are coming due.
Two examples of the risks of taxpayer-funded green energy projects in the Magnolia State were both approved by former Gov. Haley Barbour.
Mississippi’s KiOR facility — built with an investment of $75 million by taxpayers — is idled with its owners in serious financial jeopardy. The company said last week in a filing with the SEC it has doubts about its ability to secure more investment to fund its operations and “continue as a going concern.”
Twin Creeks solar plant in Senatobia opened in 2011, but closed the next year. The plant, funded partially with a $26 million state loan, was designed to build ultra-thin silicon wafers used in solar panels. It failed after a few months of operations and the company settled a lawsuit last year with the state to pay back the loan.