SOLYNDRA:

House GOP to grill 2 Treasury officials Friday over bad loan

E&ENews PM:

House Energy and Commerce Republicans today finally released their witness list for Friday's much-anticipated hearing on the bankrupt solar energy company Solyndra -- and it includes a pair of Treasury Department officials.

In attendance for what will be the committee's fifth hearing on Solyndra since June will be Gary Burner, the chief financial officer for Treasury's Federal Financing Bank, which issued the loan that the Department of Energy had guaranteed; and Gary Grippo, Treasury's deputy assistant secretary for fiscal operations and policy.

SPECIAL REPORT
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Solyndra, a solar manufacturer that was given a $535 million loan guarantee and touted by the White House as a model for the clean energy economy, has filed for bankruptcy. E&E examines how it got there and what it means. Click here to read the report.

The Treasury Department is a relatively new player in the emerging Solyndra drama on Capitol Hill. In its previous four hearings, the committee was focused on the company itself and how DOE and the Office of Management and Budget reviewed Solyndra's $535 million loan guarantee.

But the Treasury Department's role in the deal began to come to light when, in mid-September, the agency's inspector general opened an official inquiry into how the Federal Financing Bank processed and funded the Solyndra loan guarantee.

Recently released emails by OMB and DOE show that Treasury Department officials repeatedly expressed concern about the Solyndra deal, especially during a restructuring of the loan under terms that subordinated the government's more than half-billion-dollar investment to new funding from private investors. In that incidence and during discussions of another proposed restructuring in August, Treasury encouraged DOE to get approval of its efforts from the Department of Justice. DOE appeared to dismiss those concerns.

In a pre-hearing memo released today, House Republicans said they expect to hear from the Treasury officials on the extent of the department's involvement in the review of the loan guarantee from conditional commitment to restructuring. They also want to know whether Treasury believes DOE was in violation of federal statutes when it came to the restructuring process.

Click here to read the hearing memo.