Solyndra Gets Large US Loan
Apr 12, 2009 – Solyndra, a developer of thin-film solar cells, is going to benefit from a US program for a guaranteed loan for a clean-energy project. The US Department of Energy has offered to provide a $35 million loan for construction financing for Solyndra to expand its manufacturing capacity to 500 MW/year. The new factory will employ about 1,000 people. It is nice to see a company hiring rather than terminating employees. These loans were authorized by the 2005 Energy Act. This type of financing can help open up credit for solar and other renewable energy companies that have been suffering as all companies that need credit.
