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Treasury IG probes $528M loan for Solyndra Inc.; solar company failed despite federal help
WASHINGTON (AP) ' The Treasury Department's inspector general has opened an investigation of a $528 million government loan to Solyndra Inc., the now-bankrupt solar panel manufacturer once cited as a model of the Obama administration's clean energy program.
A spokesman said Thursday that the inspector general is reviewing the role and actions of the Federal Financing Bank, a government corporation supervised by the Treasury Department. The bank provided the low-interest loan to the Fremont, Calif.-based company.
The Treasury investigation is the latest government inquiry into the collapse of Solyndra, which filed for bankruptcy last month.
The FBI has executed search warrants at Solyndra's headquarters and talked to top executives. The Energy Department's inspector general and the House Energy and Commerce Committee also are investigating Solyndra and the DOE's Energy Loan Program.