Solar Companies Plan to Tap U.S. Loans Suspended Since Solyndra
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Two solar manufacturers are preparing to tap financing from the U.S. Energy Department under the same loan-guarantee program that backed the failed Solyndra LLC and Abound Solar Inc.
1366 Technologies Inc. and SoloPower Inc., which qualified for guarantees last year, are working to meet milestones needed to access the credit and may receive approval as early as the end of this year, executives at the two companies said. That would be the first funding disbursed to U.S. solar manufacturers since Solyndra’s September bankruptcy filing that spotlighted President Barack Obama’s support for the program.