Topic: Sunedison

Adam Curry deconstructs the claim that Georgetown, Texas, is powered by 100% renewable energy, revealing it as a "grid scam." The city actually buys energy from the general Texas grid, which is only 10% renewable, while paying a bankrupt company called SunEdison through a "yieldco" derivative structure. Georgetown reportedly lost $6 million on the deal last year because it could not sell excess energy back to the grid during peak production.