Solyndra, a major manufacturer of solar technology in Fremont, has shut its doors, according to employees at the campus. "I was told by a security guard to get my [stuff] and leave," one employee said. The company employs a little more than 1,000 employees worldwide, according to its website. Solyndra was touted by the Obama administration as a prime example of how green technology could deliver jobs. The President visited the facility in May of last year and said "it is just a testament to American ingenuity and dynamism and the fact that we continue to have the best universities in the world, the best technology in the world, and most importantly the best workers in the world. And you guys all represent that." The federal government offered $535 million in low cost loan guarantees from the Department of Energy. ome Republicans have been very critical of the loans. "I am concerned that the DOE is providing loans and loan guarantees to firms that aren't capable of competing in the global market, even with government subsidies" Florida Congressman Cliff Stearns told the New York Times...more
Sayonara to Solyndra as Obama's solar dreams are turning into a political nightmare.
1 comment:
I was fortunate enough to get a tour of part of the Solyndra facility two weeks ago. Very highly automated with robotics from Japan and Germany. At least the half billion dollar loan guarantee helped Japan and Germany keep jobs.
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