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BrightSource Warned of Embarrassment to Obama in Loan Delay

BrightSource Energy Inc. warned Energy Department officials in March 2011 that delays in approving a $1.6 billion U.S. loan guarantee would embarrass the White House and force the solar-energy company to close.

In a 19-page PowerPoint presentation reviewed by Bloomberg News, BrightSource described its cash position at the time as “precarious” and said the Ivanpah solar project in California being built with Department of Energy aid was in danger of collapse. The company won the guarantee a month later.