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Overseeing the Department of Energy’s loan program is Jigar Shah: the founder of SunEdison.

SunEdison was one of the biggest of Obama’s subsidized green energy bankruptcies, receiving $1.5 billion in government grants and subsidies. While Solyndra’s bankruptcy, after receiving a $535 million loan from the Obama administration, is infamous, there were quite a few disasters.
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Bankruptcy
Following years of major expansion and the announcement of the intent – which eventually fell through – to acquire the residential-rooftop solar company Vivint Solar in 2015, SunEdison’s stock plummeted and its more than $11 billion in debt caused it to face bankruptcy in April 2016.[110][111][112][113][114] It filed for Chapter 11 bankruptcy protection on April 21, 2016.[115][116] To continue its operations and pay staff, the company received $300 million in bankruptcy debt financing.[117] It continued operations during bankruptcy.[118][119] The debt financing money came from first-lien and second-lien lenders. The bankruptcy court approved the money.[120]

When it filed for bankruptcy, the company asked the court for an independent examiner to audit the company’s recent financial transactions. SunEdison requested that the examiner’s work start immediately and finish within 60 days, and that the maximum budget be $1 million. Reuters noted that, comparatively, the 2015 independent examination in the bankruptcy of Caesars Entertainment Corp. took one year and cost $40 million.[120]

During the summer of 2015, SunEdison was worth almost $10 billion,[121] and in July 2015 shares traded upward of $33.44.[120] On the day of the bankruptcy filing, the company’s trading price on the New York Stock Exchange was 34 cents per share.[120]

According to the Wall Street Journal: “SunEdison used a combination of financial engineering and cheap debt to buy up renewable-power projects around the world before the market turned sour last summer and investors soured on its business model.”[121] During the three years preceding the bankruptcy filing, SunEdison invested $18 billion in acquisitions. During that time, the company also raised $24 billion in debt and equity.[121]