WASHINGTON, DC - Energy and Commerce Committee Chairman Fred Upton (R-MI) issued the following statement regarding the Department of Energy Inspector General report that found, “Solyndra may have provided the Department of Energy with false and misleading information during the application process for a $535 million loan guarantee." The Energy and Commerce Committee conducted an 18-month investigation into the failed loan guarantee.
“Solyndra was a rotten deal from the get-go. Despite the many red flags, the administration promoted Solyndra, and taxpayers paid the price. The administration was careless with precious dollars, the program was rife with problems, and it was our effective oversight that forced DOE to do its due diligence on subsequent applications," said Upton.
Read the committee’s 2012 report on Solyndra here.
