VantagePoint Venture Partners (where Robert F. Kennedy Jr. was a partner) was the seed funder for BrightSource Energy, whose main project was the $2.2 billion costing Ivanpah Solar Electric Generating System in the Mojave Desert (in California). Because of its high costs it couldn’t be cost efficient (7 times as expensive as gas) and could only have been built using government subsidies.
The US government provided a $1.6 billon loan guarantee to get the Ivanpah plant built on public land.
In November 2014, Ivanpah's investors applied for a $539 million federal grant to pay off the federal loan (
strangely no more information on this…).
In October 2010, governator Schwarzenegger (who was married to a Kennedy) approved the Ivanpah project.
See Interior Secretary Ken Salazar next to Governor Arnold Schwarzenegger at the Mojave Desert holding a plague commemorating the Ivanpah fraud, 17 October 2010.
The Ivanpah project was mainly financed by NRG Energy with $300 million and Google that contributed $168 million.
Bechtel was partners in this scheme by leading the construction of 3 adjacent towers.
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