30 Sep '11, 11pm

UDPATES: AP: Obama admin backs 4 more solar loans worth almost $5B as deadline looms #Solyndra

WASHINGTON (AP) — The Energy Department on Friday approved four more solar energy loan guarantees worth nearly $5 billion, hours before a controversial loan program was set to expire. Meanwhile, the Justice Department moved to take away control of a failed solar panel maker from its management and transfer it to a court-appointed trustee. Energy Secretary Steven Chu said the department completed deals on four projects, including two that were sold late this week by Arizona-based First Solar Inc., a major solar manufacturer that had been seeking three federal loan guarantees for projects in California. The sales were announced Friday along with the loan guarantees. The loans were approved under the same program that paid for a $528 million loan to Solyndra LLC, a now-bankrupt solar panel maker that has become a symbol for critics of the Obama administration's green energy p...

Full article: http://sg.news.yahoo.com/govt-backs-4-more-solar-loans-de...

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