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Chu to defend Solyndra loan to House panel

Wed, 11/16/2011 - 2:23pm
Reuters

WASHINGTON (Reuters) - The U.S. Energy Department did its homework on a $535 million loan guarantee it gave to now-bankrupt solar panel maker Solyndra, Energy Secretary Steven Chu plans to tell lawmakers at a hearing on Thursday.

Republicans are expected to grill Chu on taxpayer-funded aid to Solyndra, brandishing e-mails from government officials and investors that they say show the loan was rushed, poorly supervised and ill-advisedly restructured.

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