New DOE loans support green Obama-backers

solexelBy Amanda Carey

Despite Solyndra’s abrupt closing and bankruptcy announcement last month, the Department of Energy (DOE) is undeterred. Just this month, the agency made two more loan guarantees worth millions of dollars to alternative energy firms.And, as was the case with Solyndra, officials and investors with the two new companies have strong financial ties to President Barack Obama.

On September 7, the DOE announced its plan to guarantee 80 percent – or $275 million – of a $344 million private loan taken out by the firm SolarCity. The company installs rooftop solar systems that harvests electricity SolarCity then sells.

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One Response to New DOE loans support green Obama-backers

  1. Rob N. Hood September 23, 2011 at 9:30 am #

    The fossil fuel and nuke industries has been playing a very similar game for decades. As do other big businesses especially MIC related. If anything illegal has occurred by all means prosecute. But it’s a travesty of justice when the really big boys seem to always get away with it.

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