Silicon Ranch, the solar company former Tennessee Democratic Gov. Phil Bredesen founded nearly a decade ago, reportedly has a new CEO, Bredesen’s former revenue commissioner Reagan Farr.
As reported, Silicon Ranch has a history of ethics problems.
“Matt Kisber, who has served as CEO since the company’s founding in 2011 and was Bredesen’s economic development commissioner, has been promoted to chairman of the board, a position previously held by Bredesen. Bredesen will remain a director of the company, with the title of founding chairman,” according to The Nashville Business Journal.
“Silicon Ranch owns and develops solar energy plants. Its portfolio includes more than 120 facilities in 14 states.”
As The Tennessee Star reported last year, in 2010, before he left the governor’s seat, Bredesen had to report about his role at Silicon Ranch to the Tennessee Ethics Commission. Bredesen had a personal interest in a company that benefits from policies he enacted as governor.
Bredesen, however, only made the disclosure because The Tennessean revealed Bredesen’s involvement in the company five days prior.
The now extinct Tennessee Watchdog website followed up on the story nine years ago.
“One can argue that Bredesen’s personal interest in Silicon Ranch may violate the state’s Guiding Principles of Ethical Conduct for Public Officials because of conflict of interest issues, or at least the appearance of them,” according to the website.
Bredesen had long touted the benefits of solar energy while he was governor, Tennessee Watchdog went on to say.
In 2009, for instance, he used $62.5 million in federal stimulus money to fund two solar-related projects under what was known as the Volunteer State Solar Initiative.
The first project, the Tennessee Solar Institute, is at the University of Tennessee and Oak Ridge National Laboratory campuses in Knoxville and Oak Ridge.
The second project, the West Tennessee Solar Farm near Brownsville, is a five-megawatt 20-acre power generation facility. In 2009 Bredesen described that as one that helps with educational, research, and economic development matters.
Also in 2010, Silicon Ranch subleased office space from Pathway Lending, a company that had economic development interests with the state while Bredesen was governor.
“Such involvement on the governor’s part might serve as additional violations of the state’s Guiding Principles of Ethical Conduct for State Officials,” according to the 2010 Tennessee Watchdog article.
Those guiding principles warn elected officials against even the appearance of a conflict of interest when it comes to financial interests.
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Chris Butler is an investigative journalist at The Tennessee Star. Follow Chris on Facebook. Email tips to [email protected].
Photos by Silicon Ranch.
The carpetbaggers company has ethics problems and extremely large government financing, amazing !