Bankruptcy
On 29 September 2011 Stirling Energy Systems filed for Chapter 7 bankruptcy as the stirling dish technology could not compete against the falling costs of solar photovoltaics, according to media reports.
In April 2012 the Maricopa Solar plant in Phoenix, Arizona was bought by a European - Chinese formation based in London called United Sun Systems
At the beginning of 2011 Stirling Energy's development arm, Tessera Solar, sold off its two large projects, the 709 MW Imperial Valley Solar Project and the 850 MW Calico Solar Energy Project to AES Solar and K.Road, respectively.
Read more about this topic: Stirling Energy Systems
Famous quotes containing the word bankruptcy:
“Disappointment is a sort of bankruptcy—the bankruptcy of a soul that expends too much in hope and expectation.”
—Eric Hoffer (1902–1983)
“You must get your living by loving. But as it is said of the merchants that ninety-seven in a hundred fail, so the life of men generally, tried by this standard, is a failure, and bankruptcy may be surely prophesied.”
—Henry David Thoreau (1817–1862)
“The heritage of the American Revolution is forgotten, and the American government, for better and for worse, has entered into the heritage of Europe as though it were its patrimony—unaware, alas, of the fact that Europe’s declining power was preceded and accompanied by political bankruptcy, the bankruptcy of the nation-state and its concept of sovereignty.”
—Hannah Arendt (1906–1975)