WHAT OTHER CORRUPTION CAN WE EXPECT FROM THE WHITE HOUSE?

Submitted by: Kurt J Fitch


The more one connects the dots, the more one sees that fascism is on the rise...

GOT CORRUPTION?

In the wake of $535 million down the rat-hole called Solyndra, whose main investor was a HUGE Obama donor, we have the
Dep't of Energy QUADRUPLING DOWN....
-Sunpower, a CALIFORNIA-BASED company, to get $1.3 billion
-First Solar, a CALIFORNIA-BASED company, to get $650 million
-Prolygon, a CALIFORNIA-BASED company, to get $1.5 billion
-and two additional loans, to CALIFORNIA-BASED companies, for $1.5 billion....
Headquarters: SAN FRANCISCO Area..... Main investor: GOLDMAN SACHS



http://www.sfgate.com/cgi-bin/article.cgi?f=%2Fc%2Fa%2F2011%2F09%2F30%2FBUCH1LBVJ3.DTL&type=business

$4.7 billion in renewable power loans completed
David R. Baker, Chronicle Staff Writer

Saturday, October 1, 2011

The federal stimulus program that gave bankrupt Solyndra its controversial loan raced to a close Friday, with
government officials finalizing $4.7 billion in loan guarantees to renewable power companies at the last possible
moment.

Facing an end-of-day deadline set by President Obama's stimulus act, the U.S. Department of Energy approved loan
guarantees to build three massive solar power plants in California and place solar panels on commercial buildings
in 28 states. San Jose's SunPower Corp. won final approval of a $1.2 billion guarantee for its California Valley
Solar Ranch, which will blanket a rural stretch of San Luis Obispo County with solar cells.

Fremont's Solyndra received the program's first loan - for up to $535 million - in 2009, only to file for bankruptcy
on Sept. 5. Since then, the loan program has come under intense scrutiny and criticism, even as Energy Department
officials tried to beat Friday's deadline to complete loans. In all, the program awarded about $16 billion in loans
and loan guarantees to build wind farms and solar plants, as well as factories to produce turbines, solar cells and
advanced biofuel.

SunPower Corp., left hanging until the last minute, greeted the news with relief.

The Solar Ranch will generate up to 250 megawatts of electricity, roughly equivalent to a small natural gas plant.
Power plant operator NRG Energy Inc. will own the Solar Ranch, purchasing it from SunPower for an undisclosed sum,
while Pacific Gas and Electric Co. has agreed to buy the power. Construction began in September and is expected to
produce 350 jobs.

"While generating affordable, reliable solar power, (California Valley Solar Ranch) and our solar power plant fleet
will create jobs, promote economic and health benefits for our communities, and reduce greenhouse gas emissions,"
said Howard Wenger, president of the utility business group at SunPower.

Other firms backed
Other companies won backing for their projects Friday.

-- First Solar Inc. of Arizona received final approval for loans to support two projects - a partial guarantee
of $1.5 billion for a solar power plant to be built in Riverside County, and $646 million for a plant in northern
Los Angeles County.

-- Bank of America Merrill Lynch and Prologis, a developer and owner of industrial real estate, won a partial
guarantee of $1.4 billion to install solar panels on buildings across 28 states, generating a total of 752 megawatts
of electricity. The company has dual headquarters in San Francisco and Denver.

All of the companies that won loans Friday had already received conditional approval for the money months ago.
Since then, Energy Department staff had been negotiating final loan terms and conditions, hoping to meet Friday's
deadline.

That haste angered the program's congressional critics. Republican members of the House Energy and Commerce Committee
who are investigating Solyndra's collapse complained that the Energy Department was moving too fast, potentially
placing taxpayers' money at risk.

"We are concerned that another rush to meet stimulus deadlines will result in DOE closing these deals before they are
ready," Reps. Fred Upton of Michigan, Cliff Stearns of Florida and Ed Whitfield of Kentucky wrote in a letter to
Energy Secretary Steven Chu last week.

But Congress had little appetite to draft and pass an extension of the loan program deadline. And the Solyndra
investigation itself may have played a role in preventing the final approval of loans to some companies.

'Had to put out fires'
SolarCity Corp. of San Mateo, for example, received conditional approval early on Sept. 7 for a partial loan guarantee
of $344 million to install solar panels on military housing in 33 states. The federal guarantee would serve as a
backstop for private investment, which would provide all the up-front cash. But Energy Department officials notified
the company last week that they wouldn't have time to finish the loan guarantee.

"All I know is, the people who were working on the project had to put out fires from Solyndra," said Lyndon Rive,
SolarCity's chief executive officer.

Smaller project likely
Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/09/30/BUCH1LBVJ3.DTL#ixzz1ZsLrrtD4