Bankrupt Solyndra is claiming in a $1.5 billion lawsuit that Chinese companies are driving U.S. solar manufacturers out of business.
Bankrupt Solyndra is claiming in a $1.5 billion lawsuit that Chinese companies are driving U.S. solar manufacturers out of business.
Solyndra is — or more precisely, was — a California solar manufacturer that defaulted on a $535 million federal loan guarantee. Republican presidential candidate Mitt Romney repeatedly cites the bankruptcy, blaming President Barack Obama’s administration for a failed energy policy.
In its antitrust suit, Solyndra accuses Chinese companies also named by SolarWorld of flooding the U.S. market with solar panels at below-cost prices. Like SolarWorld, Solyndra says that the Chinese government illegally subsidized companies including Suntech Power Co., Trina Solar and Yingli Green Energy Holding Co.
Read more at OregonLive.com.
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