Congressional investigators are scrutinizing another one of the Obama administration’s green boondoggles. Sun Power has received twice as much money from the government as Solyndra, and also appears to be in financial distress:
The Energy Department says on its website that the $1.2 billion loan to help build the California Valley Solar Ranch in San Luis Obispo County, a project that will help create 15 permanent jobs, which adds up to the equivalent of $80 million in taxpayer money for each job. But the Energy Department stands by the project. . .
SunPower posted $150 million in losses during the first half of this year and its debt is nearly 80 percent of its market value. The company is also facing class action lawsuits for misstating its earnings. . .
The company is also politically connected. Rep. George Miller’s son is SunPower’s top lobbyist. The elder Miller, a powerful California Democrat, toured the plant last October with Interior Secretary Ken Salazar.
Meanwhile, the White House is refusing to turn over documents relating to Solyndra.