A House Oversight and Government Reform Subcmte. examines the Department of Energy's (DOE) handling of a loan guarantee program underwriting its Green Energy program. Rep. Jordan (R-OH) chairs the hearing.
Since the collapse of Solyndra, a solar panel company, Republican committee members have questioned whether DOE mismanaged its loan program and if the alternative energy companies even needed the tax payer funds they received.
Today's hearing brings together executives from four companies that were granted over $6 billion. The funds came from the Section 1705 loan guarantee program of the American Reinvestment and Recovery Act of 2009 which provided $15 billion for over 25 alternative energy projects.
Witnesses include: David Crane, President and CEO, NRG Energy, Inc.; Walter C. Rakowich, Co-CEO, Prologis, Inc.; Robert Mancini, CEO, Cogentrix Energy, LLC; Yehudit Bronicki, CEO and Director, Ormat Technologies, Inc.; and Veronique de Rugy, Senior Research Fellow, Mercatus Center at George Mason University.