facebook
twitter
search
search

Chu to testify about Solyndra loan

Oct. 28, 2011 at 6:06 AM
1 of 3
| License Photo

WASHINGTON, Oct. 28 (UPI) -- U.S. Energy Secretary Steven Chu agreed to testify before lawmakers about the controversial loan to solar panel company Solyndra, a committee chairman said.

Members of the Republican-led House of Representatives are putting pressure on the White House following the bankruptcy of solar panel company Solyndra. The company received a $535 million loan guarantee as part of U.S. President Barack Obama's green energy initiative.

U.S. Rep. Cliff Stearns, R-Fla., chairman of a subcommittee on oversight, said Chu agreed to testify Nov. 17 before lawmakers about the loan guarantee.

"We hope he will finally provide answers about why (the Department of Energy) consciously ignored the direct warnings from their own experts that Solyndra was doomed to fail, and granted the loan to Solyndra," he said in a statement.

House leaders complained when the Energy Department said Susan Richardson, the author of a legal memo on Solyndra's loan restructuring, wouldn't testify under oath about the loan.

Critics say some of the details surrounding the loan raise certain legal questions.

The Obama administration said aggressive policies are needed as European and Asian countries quickly outpacing the United States in the clean-energy race.

Like Us on Facebook for more stories from UPI.com  
Related UPI Stories
Latest Headlines
Top Stories
Australian troops to receive new rifle variant
Gas prices could go up, AAA says
Saab joining BAE Systems, Patria in bid to produce armored vehicle
Kurdish government in Iraq selling more oil
Survey: OPEC keeps plugging away