Thursday, October 06, 2011

Energy official resigns in wake of Solyndra loan controversy

Jonathan Silver, the head of the Energy Department’s loan guarantee program, is resigning in the wake of the controversy surrounding a $535 million loan guarantee to a failed California-based solar company. Silver has come under fire in recent weeks from House Republicans, who have raised questions about the department's loan program in light of the recent bankruptcy of Solyndra, the solar panel manufacturer that received the loan guarantee in 2009. The Energy Department said Silver informed Energy Secretary Chu in July that he planned to resign shortly after the loan guarantee program for renewable energy projects ended. The renewable energy loan guarantee program expired Sept. 30...more

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