Economics
Obama Stands by Renewable Energy Aid After Solyndra’s Failure
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President Barack Obama is standing by his support for renewable energy after Solyndra Inc., a maker of solar panels that received a $535 million U.S. loan guarantee, shut its doors, a White House spokesman said.
Solyndra suspended operations and plans to file for bankruptcy reorganization because it couldn’t compete with larger rivals, the closely held company said in a statement yesterday.