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

Senate Passes Tax Extenders Bill With Wind PTC Extension

The legislation, which passed in the U.S. House earlier this month, will renew the critical production tax credit through the end of 2014 - giving developers only about two weeks left to start construction.


Transmission Study Shows Nebraska Could Handle A Lot More Wind Power

A new report released by the Nebraska Power Review Board finds that the state already has enough infrastructure to accommodate at least 2 GW of additional wind generation.


Can Wind Energy And Birds Coexist? Environmental Group Says Yes

The Environmental Defense Fund, a supporter of responsible wind energy development, points out ways to help mitigate impacts of turbines on birds and bats.


Another Study Finds Wind Turbines Do Not Affect Nearby Property Values

Research conducted by the University of Guelph focused on regions in Ontario, and the conclusion echoes that of previous studies.


Too Little, Too Late? U.S. House Approves Wind PTC Extension

The U.S. House of Representatives has passed a tax extenders package that would renew the wind production tax credit (PTC) and about 50 other expired tax breaks through 2014. The wind industry argues the short-term fix is virtually no fix at all.

Hybrid Energy Innovations 2015