Wednesday, September 14, 2011

Lawmakers will wait on testimony from solar execs

FILE - In this Aug. 31, 2011, file photo, Solyndra workers leave Solyndra in Fremont, Calif. Leaders of a House panel say they plan to make Obama administration officials answer for putting taxpayers on the hook for a half-billion dollar loan that went to a now-bankrupt solar panel manufacturer. The panel is conducting a hearing Wednesday, Sept. 14, 2011, that will examine what went wrong with the company which had received a federal loan of nearly $528 million and recently filed for bankruptcy. (AP Photo/Paul Sakuma, File)

FILE - In this Aug. 31, 2011, file photo, Solyndra workers leave Solyndra in Fremont, Calif. Leaders of a House panel say they plan to make Obama administration officials answer for putting taxpayers on the hook for a half-billion dollar loan that went to a now-bankrupt solar panel manufacturer. The panel is conducting a hearing Wednesday, Sept. 14, 2011, that will examine what went wrong with the company which had received a federal loan of nearly $528 million and recently filed for bankruptcy. (AP Photo/Paul Sakuma, File)

(AP) ? A congressional panel says two executives with a solar-panel manufacturer under FBI investigation won't testify at a hearing Wednesday but are expected to appear voluntarily next week.

The panel is examining the financial collapse of Solyndra (so-LYNN'-druh) Inc., which had received a federal loan of nearly $528 million and recently filed for bankruptcy.

The Solyndra executives were invited to appear before the panel that conducts investigations for the House Energy and Commerce Committee. But a spokesman for Solyndra said they needed to remain in California to engage with potential purchasers of the company's assets.

Republicans on the panel have been highly critical of the loan to Solyndra. They say the company's financial woes raise red flags about the federal government's efforts to jump-start renewable energy projects.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/386c25518f464186bf7a2ac026580ce7/Article_2011-09-14-Solar%20Manufacturer-Investigation/id-00ae9db3fe8440aab909cf3d7397f2c1

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