The Energy Department defied Republican critics Friday by announcing that it had committed an additional $4.7 billion in loan guarantees toward four big-dollar clean technology projects just hours before the program’s funding expired.
The announcement marked a dramatic ending for the $18 billion loan guarantee program, which has been central to the administration’s push to create jobs and promote green technology. Simultaneously, the program has come under fire for its handling of a half-billion-dollar loan to Solyndra, a solar company that collapsed in August.
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