The U.S. Energy Department will complete $6.5 billion in loan guarantees tomorrow for two nuclear reactors being built at Southern Co.’s Vogtle plant in Georgia, four years after conditionally backing the project.
Energy Secretary Steven Chu disputed Republican claims that his agency illegally refinanced a loan for Solyndra LLC, the solar-panel maker that went bankrupt after receiving a $535 million U.S. loan guarantee.
Energy Secretary Steven Chu told lawmakers he was responsible for the $535 million U.S. loan guarantee to Solyndra LLC and said he doubted much of the money would be recovered after the company’s bankruptcy.
U.S. Energy Secretary Steven Chu, who drew criticism from Republicans over his support for loans to Solyndra LLC before the solar-panel maker went bankrupt, will leave his Cabinet post in President Barack Obama’s second term, according to two people familiar with the matter.
Energy Secretary Steven Chu, whose tenure was marked by questions about a troubled green-energy program, said in a letter to department employees today that he plans to step down and return to California and academics.