JACKSON, Miss. (AP) — The state of Mississippi has settled a lawsuit with Twin Creeks, a California solar panel company that went out of business after the state spent $27.7 million to construct a building for the business in Senatobia and buy equipment.
The settlement was filed Tuesday. The Associated Press obtained a copy from Gov. Phil Bryant's office.
The agreement states that Twin Creeks will immediately pay back $1.25 million and that the state will get rights to $10 million in possible royalties over time. Mississippi will also get rights to sue an equipment maker that Twin Creeks says made a defective piece of equipment.