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Exclusive: Controversial U.S. energy loan program has wiped out losses

Posted by New Leaders Council 4 Admin on November 20, 2014 at 11:32 PM

Solyndra made news again, but this time in different light, in this article published on Reuters by Nichola Grooma on Nov 13, 2014.

(Reuters) - The controversial government program that funded failed solar company Solyndra, and became a lighting rod in the 2012 presidential election, is officially in the black.

According to a report by the Department of Energy, interest payments to the government from projects funded by the Loan Programs Office were $810 million as of September - higher than the $780 million in losses from loans it sustained from startups including Fisker Automotive, Abound Solar and Solyndra, which went bankrupt after receiving large government loans intended to help them bring their advanced green technologies to market. 

Read the full story here: