12:44
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The U.S. Energy Department completed
$4.75 billion in loan guarantees for four solar projects
yesterday, the deadline for a 2005 program funded by the
stimulus act.
Projects being developed by ProLogis Inc., SunPower Corp. (SPWRA), and First Solar Inc. (FSLR) won U.S. backing, and First Solar and SunPower immediately sold theirs.
The guarantees come at the end of a month in which the Energy Department’s program became the center of a political scandal, said Brett Prior, an analyst at GTM Research in Boston. The shift came after Solyndra LLC, a solar company that received $527 million in backing through the same program, closed its doors Aug. 31.
“It’s been very successful, and in fact the only rap against the program until recently was that it was moving too slowly,” Prior said in an interview yesterday. “Lenders always assume some risk and Solyndra was a tiny portion of the overall program.” Read More
Projects being developed by ProLogis Inc., SunPower Corp. (SPWRA), and First Solar Inc. (FSLR) won U.S. backing, and First Solar and SunPower immediately sold theirs.
The guarantees come at the end of a month in which the Energy Department’s program became the center of a political scandal, said Brett Prior, an analyst at GTM Research in Boston. The shift came after Solyndra LLC, a solar company that received $527 million in backing through the same program, closed its doors Aug. 31.
“It’s been very successful, and in fact the only rap against the program until recently was that it was moving too slowly,” Prior said in an interview yesterday. “Lenders always assume some risk and Solyndra was a tiny portion of the overall program.” Read More
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