Abound Solar Got $400M Fed Loan Despite Low Rating


Pattern to Energy Loans?

Issa's letter, however, suggests that House Republicans believe the DOE loan to Abound Solar follows a troubling pattern. In addition to raising questions about the degree of risk involved in putting taxpayer funds into Abound, Issa also inquires about the company's political ties to the Obama administration. Namely, Issa notes that a major investor in Abound Solar, the Bohemian Companies, is run by Pat Stryker.

Forbes puts Stryker's net worth at more than $1.3 billion, and Stryker has donated nearly $500,000 to Democrats in the past five years, including $50,000 to Obama's inaugural fund and $35,800 to his victory fund, according to the Center for Responsive Politics.

A message left at Stryker's office in Colorado has not been returned.

Energy Department officials reiterated that the decisions made by loan officials were based on the merits, and never on political considerations.

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Two Republican-led House committees have been investigating the Obama administration's green energy loan program, and to date, no evidence has emerged showing loan recipients used political influence to secure their money.

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