Gov. Patrick: 'Evergreen Solar wasn't a failure'

BOSTON (MyFoxBoston.com) -- Is the governor wasting our money on so called green initiatives? He says his green agenda as "very strong," and defended Evergreen Solar, saying it "wasn't a failure."

FOX 25's Political Reporter Sharman Sacchetti caught up with the governor as he announced that $50 million will go toward protecting the state against the risks of global warming. He says the money is meant to go toward roads and coastal areas, and what he calls vulnerabilities in public health, transportation and energy.

Governor Deval Patrick says $40 million of that money will come from a grant program to be handed out by the Department of Energy Resources. The administration also expects to appoint a state climatologist to help cities and towns understand the risks.

Given his track record with investments in failed green tech companies, like Evergreen Solar, FOX wanted to know if this was the best use of money.

"Evergreen Solar wasn't a failure, the state didn't lose any money. Report the facts," he said.

FOX reached out to a Patrick spokeswoman for clarification. She says Evergreen received $21 million in grants. And $22 million in tax credits.

The company, they say, has continued to pay taxes, more than $3 million since filing for bankruptcy.

So was this a good investment or was it a failure?

Gregory Sullivan, former inspector general who is now with the Pioneer Institute, told FOX that it was in fact a failure.

"Well Governor Patrick's very frustrated there you can see, very hostile. This has been his, probably, biggest public failure of his two terms as governor, was his investment in Evergreen Solar. The state sunk about $31 million into this company, we really rolled the dice. The company shortly thereafter went under, 800 people lost their jobs and the business went to China. So it was a big mistake," he said.

Sullivan went on to say that Evergreen Solar was a bad investment because it never made money. It lost money every year since it began; it was a gamble against the odds. Massachusetts lost the bet.

Cox Media Group