Energy Secretary Steven Chu Testifies on Clean Energy Loan Guarantees
The Senate Energy and Natural Resources Committee held a full committee hearing on Energy Department loan guarantees, Tuesday morning.
The hearing focused on the “Report of the Independent Consultant’s Review with Respect to the Department of Energy Loan and Loan Guarantee Portfolio,” and also examined Solyndra, which received more than half a billion dollars in federal loan guarantees before it filed for bankruptcy last year.
House Republicans opened their investigation into Solyndra nearly 13 months ago, but this was the first time a Democratic-controlled Senate examined the program since Solyndra went under.
Herbert Allison, author of the report and former Treasury assistant secretary, testified along with Energy Secretary Steven Chu.