facebook
twitter
rss
account
search
search
 

Solyndra gets first U.S. solar loan

March 23, 2009 at 9:42 AM   |   Comments

WASHINGTON, March 23 (UPI) -- The U.S. Department of Energy announced it will give Solyndra Inc. a $535 million loan guarantee to build a commercial solar panel manufacturing plant.

The plant would employ thousands of people and is part of U.S. President Barack Obama's plan to create new jobs.

The loan guarantee will be supported through the American Recovery and Reinvestment Act.

California-based Solyndra's photovoltaic systems are designed to be economical and are designed for use on commercial, industrial and institutional rooftops.

Solyndra's solar panel design converts glass tubes into photovoltaic panels. In addition to creating jobs both in the construction and operation of the plant and the installation of the panels, the plant will help the United States reduce its greenhouse-gas emissions.

Topics: Barack Obama
© 2009 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Led Zeppelin loses first round in 'Stairway to Heaven' plagiarism lawsuit Led Zeppelin loses first round in 'Stairway to Heaven' plagiarism lawsuit
2
Tesla could face sales ban in Michigan Tesla could face sales ban in Michigan
3
Marijuana decriminalized in Philadelphia Marijuana decriminalized in Philadelphia
4
Reports claim Ukraine used cluster bombs in Donetsk city Reports claim Ukraine used cluster bombs in Donetsk city
5
Ricki Lake, husband Christian Evans reportedly split Ricki Lake, husband Christian Evans reportedly split
Trending News
Around the Web
x
Feedback