Solyndra Gets $535 Million Loan Guarantee from Dept of Energy for New Solar Panel Facility

solyndra solar panels image

image: Solyndra

Back in October there was quite the buzz about a new type of solar power array consisting of cylindrical thin-film PV modules produced by Solyndra. Now Solyndra is announcing that it has received an offer from the Department of Energy for a $535 million loan guarantee to expand its manufacturing capacity in California:500 MW Manufacturing Facility Will Create 1000 Jobs
The loan is expected to supply debt financing for about 73% of the costs of constructing a second solar panel fabrication facility. When completed, the facility will have an annual manufactyring capacity of 500 MW. Solyndra estimates that during construction of the facility about 3,000 will be employed, and when completed 1,000 new jobs will be created.

Solyndra's solar power modules are designed to be placed on commercial rooftops with a light colored roof which will reflect light onto all sides of the cylindrical thin-film PV module. Unlike other solar panels, each individual unit is simply placed onto the roof, requiring no mounting hardware, with all the units clipping together along the edges.

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