Posted on 09/28/2011 3:09:13 PM PDT by tobyhill
The Energy Department on Wednesday approved two loan guarantees worth more than $1 billion for solar energy projects in Nevada and Arizona, two days before the expiration date of a program that has become a rallying cry for Republican critics of the Obama administration's green energy program.
Energy Secretary Steven Chu said the department has completed a $737 million loan guarantee to Tonopah Solar Energy for a 110 megawatt solar tower on federal land near Tonopah, Nev., and a $337 million guarantee for Mesquite Solar 1 to develop a 150 megawatt solar plant near Phoenix.
The loans were approved under the same program that paid for a $528 million loan to Solyndra Inc., a California solar panel maker that went bankrupt after receiving the money and laid off 1,100 workers. Solyndra is under investigation by the FBI and is the focal point of House hearings on the program.
(Excerpt) Read more at google.com ...
HOLD OBAMA ACCOUNTABLE!!!!!!! VOTE HIM OUT, and all of the other Crooks. Pelosi, Reed and the communist!!!!!!!!!
However, if you want to invest in energy, why not just buy a car company and force efficiency? Oh, yeah, now I remember why...
I don’t know. The power generated should bring in income. I would make them pay rent and fees for generated power, payable to the Treasurer of the U.S. But I’m not President, nor even Secretary of Energy.
The Obama cartel at it again.
Solyndra's multimillion-dollar white elephant
The glass-and-metal building that Solyndra LLC began erecting alongside Interstate 880 in Fremont in September 2009 was something the Silicon Valley area hadn't seen in years: a new factory.
It wasn't just any factory. When it was completed at an estimated cost of $733 million, including proceeds from a $528 million federal loan guarantee, it covered 300,000 square feet, the equivalent of five football fields. It had robots that whistled Disney tunes, spa-like showers with liquid-crystal displays of the water temperature, and glass-walled conference rooms..........
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/09/28/BURG1LAO3J.DTL
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