Issue Date: September 14, 2009
Solyndra Gets Loan For Solar Plant
The Department of Energy has finalized a $535 million loan guarantee to thin-film solar manufacturer Solyndra. In addition, the company raised $198 million in a funding round led by venture capital firm Argonaut Private Equity. Solyndra will use the money to finance a plant in Fremont, Calif., that will produce solar panels with a total energy capacity of 500 MW per year. Made of copper-indium-gallium-selenide photovoltaics deposited on the inside of glass tubes, the panels are designed for installation on large, flat roofs.
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