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Solar company bankrupt despite 'win-win' DOE loan

Posted: April 3, 2012 |   Comments

In keeping with the recent trend of so-called green companies going
into the red, another solar energy company supported by President
Obama's top administration officials declared bankruptcy today.

Solar Trust for America received $2.1 billion in conditional loan
guarantees from the Department of Energy -- "the largest amount ever
offered to a solar project," according to Energy Secretary Steven Chu -- for a project near Blythe, Calif., but declared bankruptcy within a year. It is unclear how much of the guarantee, if any, was actually awarded.

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