Another green success story. Boy, they’re really piling up the victories, aren’t they?
Evergreen Solar is asking a bankruptcy judge for permission to walk away from its former plant in Devens.
The company, which received tens of millions in state aid before shuttering its facilities last year and moving its manufacturing operations to China, filed the notice in federal bankruptcy court in Delaware on Monday.
Interested parties including MassDevelopment, which helps finance and develop new projects, have until Friday to respond to the filing.
A spokeswoman for MassDevelopment declined comment Tuesday, saying the filing speaks for itself.
Evergreen received more than $20 million in grants and $11 million in tax and lease initiatives from Massachusetts.
A spokesman for Massachusetts Development declined to discuss what will happen next with the plant, which cost some $450 million to build just five years ago. The development authority was one of the Massachusetts state agencies that pitched in to get Evergreen Solar going.
Evergreen Solar was one of several green-technology enterprises that filed for bankruptcy in recent years, a wave of failures that wiped out billions of dollars worth of public and private investment.
Now in the final phases of a planned bankruptcy liquidation, Evergreen has brokered a deal among creditors to share the pain of its demise.
Forget about shared success. Now we have to live with shared failure.