Bloomberg News – Friday February 17, 2012
Solindra (solar manufacturer) Receives a Department of Energy (DOE) (run by Chu) Loan guarantee for $537 million. One month before Solindra files for bankruptcy in 2011, DOE (Chu) was in the process of finalizing another loan guarantee ($1.4 billion) to Prologis (the largest owner of industrial buildings in the world, based in San Francisco) which was intended to purchase over $1.4 billion worth of solar panels (for some of the Prologis facilities) from Solindra (to keep them from going bankrupt). The DOE – Prologis program was called “Project Amp”.
Solindra’s solar panels cost more to produce than they could be purchased by Prologis in China. Executives at Solindra and Prologis are large campaign contributors to the Obama campaign.
The investigation by Representative Cliff Stearns has just begun. Is this the tip of another ice berg which the main stream media will sweep under the rug?