Excerpt: Since the October 6, 2011, letter, Beacon Power and Abound Solar declared bankruptcy, making them the second and third recipients of a Section 1705 loan guarantee to do so. Recent reports have indicated that several other recipients remain in unstable financial condition. The Committee is determined to continue its oversight of this program and ensure that taxpayer interests are prioritized.
To read the letter to DOE, click here.
To read the October 6, 2011, letter to DOE, click here.