A history of Solyndra

September 13, 2011
A history of Solyndra

● 2005: Solyndra is formed.

● December 2006: Company applies for a government-guaranteed loan under the Bush administration.

● March 2009: Energy Secretary Steven Chu announces $535 million conditional loan guarantee to Solyndra, the first for Obama administration.

● Late August 2009: White House asks Office of Management and Budget whether it can “speed along” final approval of the Solyndra loan for a scheduled press event with Vice President Biden.

● Sept. 1, 2009: OMB gives final approval.

● Sept. 4, 2009: Biden and Chu announce final approval at Solyndra groundbreaking.

● March 2010: Auditors raise concerns about whether Solyndra can continue as “going concern.”

● May 2010: President Obama visits Solyndra, touts it as a model.

● January 2011: Solyndra executives confide to administration that they are on the brink of liquidation.

● February 2011: Energy Department helps Solyndra with refinancing; investors put in an additional $75 million.

● Aug. 31, 2011: Solyndra files for bankruptcy, closes its plant, lays off 1,100 people.

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