Department of Energy Rushes through another $5 billion in so-called "Green-energy" loan guarantees

Well, so much for Solyndra getting the government to rethink their ability to give out loans. From Politico:

The Energy Department's clean-energy loan guarantee program went out with a nearly $5 billion flourish Friday. And it's not over yet.

The embattled department announced approvals for a total of more than $4.7 billion in guarantees Friday — acting hours before the program's congressional authorization was set to expire, and seeming not at all like an agency cowed by the furor over its troubled $535 million loan guarantee to Solyndra.

The frenzy set off even more financial dealing, as three of the DOE-backed projects were immediately snapped up in announced acquisitions by NextEra Energy, NRG Energy and Exelon Corp.

As of 6 p.m., DOE had yet to announce whether it was approving or rejecting two more conditional loan guarantees on which it must act before midnight.

Among the day's developments, DOE awarded:

* A total of $2.1 billion in guarantees for two California projects developed by First Solar Inc., which promptly announced it was selling both ventures — one to Exelon, one to NextEra.

* A $1.2 billion guarantee for a California photovoltaic solar plant under construction by SunPower Corp. NRG immediately announced it was buying that project, although NRG said the acquisition occurred “immediately prior” to the closing of the guarantee.

* A $1.4 billion guarantee for Project Amp, an effort to put solar panels on warehouse rooftops in up to 28 states and the District of Columbia.

Friday's total is in addition to more than $1.2 billion in guarantees that the department issued earlier in the week. . . .

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