Thursday, October 10, 2013

What's Left of Hoku Will Be Auctioned October 23

Posted By on Thu, Oct 10, 2013 at 10:30 AM

A $700 million plant, which state officials promised would become one of Eastern Idaho's largest employers, is headed to the auction block.

In May 2012, Hoku halted construction of its Pocatello facility and laid off 100 employees after struggling to even pay its electric bill to Idaho Power. The CEO of Hoku Solar tendered his resignation shortly thereafter.

Hoku filed for bankruptcy in Pocatello federal court in July, reporting nearly $1 billion in red ink.

Pocatello's KIDK-TV reports that the tens of thousands of items will be auctioned off at the shuttered Hoku facility Wednesday, Oct. 23. The public will be allowed to tour the facility and auction items on Tuesday, Oct. 22.

The biggest auction item will be the facility itself, and Pocatello Mayor Brian Blad is estimating that the bids should start somewhere around $3 million. The big question is whether the winning bidder will keep the facility or demolish the structure and repurpose the site.

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