(Washington, DC) — The Obama Administration is approving more solar loans after the Solyndra debacle.
The U.S. Energy Department has finalized two loan guarantees totalling more than $1 billion.
The action comes as solar panel maker Solyndra is in bankruptcy and under FBI investigation.
The Energy Department backed a half-billion dollar loan for Solyndra.
President Obama also toured the Solyndra plant near San Francisco while promoting green energy jobs.
The new loans back big solar projects in Arizona and Nevada that will convert sunlight into electricity.
Congressional Republicans are investigating the Solyndra loan.
(Copyright 2011 by VERTEXNews/Newsroom Solutions)