10% for the big guy?: Biden Reboots Obama-Era Green Energy Loan Program That Funded Solyndra And Cost Taxpayers Billions

Sharing is Caring!

The Biden administration has rebooted the Energy Department’s green loan program that lent hundreds of millions of taxpayer dollars in the Obama-era to the now-defunct green energy company, Solyndra, according to an announcement.

The Advanced Clean Energy Storage project in Utah will receive the loan, leaving $2.5 billion for other clean energy projects, the Department of Energy (DOE) stated Wednesday.

The Loan Programs Office last was active in the Obama administration and granted the solar-call firm Solyndra $500 million, which then went bankrupt in 2011, Politico reported. After breaking ground on the energy company, Solyndra then went bankrupt and could not continue operating, with the burden falling on the taxpayers.

See also  Top Democrats Jumping Ship After Another Joe Biden Disaster

The $504.4 million loan will be used to construct the world’s largest clean hydrogen storage facility, the DOE said in its announcement



h/t Coastie Patriot

Help Support Independent Media, Please Donate or Subscribe:
See also  Energy sec Jennifer Granholm insists high gas prices are 'a very compelling case' to buy an electric car: and recently sold stock in electric car company

Views: 24

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.