DOE-backed solar firm files for bankruptcy


Solyndra's manufacturing plant received a visit just last year from President Obama. | Reuters

By DARREN GOODE | 8/31/11 2:23 PM EDT

Solyndra, a major solar manufacturer that has been the subject of a House GOP probe regarding a $535 million DOE loan guarantee, is filing for bankruptcy and laying off 1,100 workers — a step sure to raise even more awkward questions about the Obama administration’s green jobs agenda.

The administration has touted the company as a successful recipient of stimulus funds, and its Fremont, Calif., manufacturing plant received a visit just last year from President Barack Obama.

But on Wednesday, the company announced that it has suspended its manufacturing operations and intends to file a petition for Chapter 11 bankruptcy relief.

“Regulatory and policy uncertainties in recent months created significant near-term excess supply and price erosion,â€