Washington, D.C. – This morning U.S. Representative John D. Dingell issued a prepared statement and spoke to Solyndra executives at the House Energy and Commerce Subcommittee on Oversight & Investigations hearing examining a 2009 loan to Solyndra in light of the company’s recent bankruptcy announcement.  Below is Congressman Dingell’s prepared statement:

“Mr. Chairman, I’m as disappointed as every other member of this subcommittee that we will not be able to ask questions of today’s witnesses.  If we’re going to look into this issue, we need to get both sides of the story.

“I am still unconvinced that there was wrongdoing on the part of the Department of Energy’s Loan Program Office.  I believe they documented that over the course of three years and two Administrations, one Republican and one Democratic.  They also showed that due diligence was done by the Loan Program Office and by outside engineering and market consultants.

“I am concerned about media reports of unnecessary spending on the part of Solyndra and inaccurate sales projections.  Members of this subcommittee were assured earlier this year that the company was thriving and on track to success and it concerns me that they may have been given inaccurate information.  I hope that at some point in the future we can hear Solyndra’s side of this story.

“I know many of my colleagues on this subcommittee support renewable energy projects; many members on both sides of the aisle submitted letters of support for Recovery Act funded projects in their districts.  I hope that we don’t take the failure, for whatever reason, of this project to mean that all renewable energy projects are bad investments.  To the contrary, they create jobs and put Americans back to work.”

To view the video of Congressman Dingell speaking at the hearing, click here.

 

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