in News Departments > New & Noteworthy
print the content item

The Obama administration has ordered an independent review of the loans made under the Department of Energy's (DOE) loan-guarantee program. The review will focus on more than 24 loan guarantees and loans made to renewable energy firms, according to an AP report.

Details on which companies and loan guarantees will be under the microscope have not been released. Beacon Power Corp., a Tyngsboro, Mass.-based energy-storage firm that received a DOE loan guarantee, recently filed for bankruptcy and could be an investigation target.

The process is expected to be led by Herb Allison, a former U.S. Treasury official who also oversaw the Troubled Asset Relief Program, which was launched as part of a 2008 economic-recovery initiative.

DOE Secretary Steven Chu told the AP in a statement that he welcomed the review.

Meanwhile, the U.S. House Energy and Commerce Committee plans to look into a resolution that would authorize the issuance of a subpoena to the White House.

"The meeting comes only after the White House has denied requests for internal White House documents related to [solar firm] Solyndra, refusing to turn over information or engage in discussions with the committee about identifying relevant documents," the committee explained in a statement. "Recently produced documents revealed that the president's closest confidantes in the White House participated in decisions regarding the Solyndra loan."

According to Energy and Commerce Oversight Committee Chairman Fred Upton, R-Mich., and Investigations Subcommittee Chairman Cliff Stearns, R-Fla., the Obama administration has, so far, failed to sufficiently cooperate with the committee on its investigation.

"Subpoenaing the White House is a serious step that, unfortunately, appears necessary in light of the Obama administration's stonewall on Solyndra," the two lawmakers said in a statement. "What is the White House trying to hide from the American public?"

The committee is scheduled to meet on Nov. 3 to discuss the potential White House subpoena.



Trachte Inc._id1770
Latest Top Stories

Are Fitch Ratings' Claims About Wind Farm Underperformance Unfounded?

A recent report from Fitch Ratings suggests that wind farms underperform due to an overestimation of wind resources, but AWS Truepower says the analysis misses the mark.


SunEdison Buying First Wind In $2.4 Billion Deal

Global solar company SunEdison and its yeildco have announced an agreement to buy the Boston-based developer, a major player in the U.S. wind industry.


U.S., China Reach Ambitious Climate Change Accord

The agreement between the global superpowers leans heavily on the deployment of renewable energy, such as wind and solar.


What The Midterm Elections Mean For The U.S. Wind Industry

Both chambers of Congress are now under Republican control for the first time since 2006. How will wind energy fare?


GE Blade Crashes At Mehoopany Wind Farm In Pennsylvania

The turbine manufacturer says the Nov. 2 incident is "isolated and unrelated" when compared to earlier blade issues.

Renewable NRG_id1934
Hybrid Energy Innovations 2015
BG 2015DblBox_id2032