by Steve Alexander, Star Tribune

Renewable Energy SD, an Excelsior seller of wind energy equipment that was sued for fraud by the Minnesota attorney general’s office, has filed for Chapter 7 bankruptcy.

In its Friday filing for liquidation in U.S. Bankruptcy Court, Renewable Energy listed $15.9 million in debts and $6.2 million in assets.

The attorney general’s lawsuit, filed in Hennepin County District Court in January, alleges that the company and its sole owner, Shawn Dooling, 46, of Shorewood, sold farmers in Minnesota and elsewhere faulty wind turbines using federal stimulus money aimed at helping the country during the recession.

The company either failed to deliver many of the turbines or, in some cases, erected turbines that failed to perform properly or at all, the suit says. About 15 civil lawsuits have been filed against Renewable Energy SD by its customers or suppliers.

Read the rest of the article here.

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