$535 Million in Recovery Act Funds for California Solar Panel Manufacturer

Vice President Biden joined Energy Secretary Chu today to announce that Solyndra, Inc. - a solar panel manufacturer of Freemont, CA - will receive a $535 million loan guarantee, courtesy of the Recovery Act. The funds will be used to finance construction of the first phase of the company’s new manufacturing facility, which will ultimately generate enough electricity to power 24,000 homes. Solyndra estimates the new plant will create 3,000 construction jobs, and lead to as many as 1,000 jobs once the facility is up and running; not to mention the hundreds who will be employed to install Solyndra’s solar panels on rooftops around the country.

About one-third of the Recovery Act funds are committed to projects like this one: infrastructure and technology investments that will help America lead in the 21st century economy. A New York Times editorial this morning took aim at the oil lobby's “Astroturf” efforts to undermine the emerging clean energy industry and millions of new green jobs.

Comments (1) «

Now give credit where cridit is due- Van Jones!!! Another success, and one step closer to bringing it all down.

"No, we're going to change the Whole Thing!"

1

JS4Progress on September 4, 2009 at 05:11 PM

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