More Croney Socialism
The Energy Department will announce later Wednesday that is has finalized a $737 million loan guarantee for a Nevada solar project.
The decision comes several weeks after a California-based solar manufacturer that received a $535 million loan guarantee from the Obama administration in 2009 filed for bankruptcy and laid off 1,100 workers, setting off a firestorm in Washington.
The $737 million loan guarantee will help finance construction of the Crescent Dunes Solar Energy Project, a 110-megawatt solar power generating facility in Nye County, Nev. The project is sponsored by Tonopah Solar, a subsidiary of California-based SolarReserve.
Read more: http://nation.foxnews.com/obama-administration/2011/09/28/solyndra-who-obama-admin-approves-737m-solar-loan#ixzz1ZGwDhJ3X