Solar firm that got $26M in Mississippi loans is closing

By Jeff Amy/The Associated Press

JACKSON — Mississippi taxpayers may have only an empty Senatobia building and some solar panel equipment to show for nearly $26 million in loans provided to Twin Creeks Technologies.

The California-based solar technology firm is liquidating, and a company that bought Twin Creeks’ assets does not intend to take over its agreement with Mississippi. The contract called for Twin Creeks to invest at least $132 million and create at least 500 jobs.

The Mississippi Development Authority’s Kathy Gelston says officials are negotiating for Twin Creeks to repay aid above the value of the building and equipment.

Lenders sold Twin Creeks’ technology for $10 million to GT Advanced Technologies of Nashua, N.H., in mid-November. Gelston says Twin Creeks received about $3 million from the sale, but says there are creditors beyond Mississippi.