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Obama Bails Out Solar Panel Maker First Solar

Will this presidential election be the most important in American history?

By Tom Borelli:

The Department of Energy (DOE) threw a life line yesterday to solar energy company First Solar.

After concerns that the company’s deal with Exelon to supply a huge solar energy project would fall apart because First Solar was not getting the anticipated support from the government, yesterday Forbes reported that the DOE’s loan guarantee was back on track.

“First Solar had entered into a deal with Exelon Corp to build and operate the Antelope project for $1.36 billion. Exelon Corp reserved the right to walk away from the project in case the project failed to receive funds from Department of Energy by the 23rd of February. The DOE had approved $646 million in loans for the project, but had delayed processing the funds because of issues encountered in obtaining local permits. [1] The issues were resolved in mid-February, ending the uncertainty related to the sale of the project.”

First Solar’s stock has been getting hammered this year with its share price trading at five year lows and with the company possibly on the way to bankruptcy. The DOE loan caused a huge bump in the stock price and rescued a failing company at a critical juncture.

With Obama’s focus on green energy, the President could not allow another solar company to fail.

Read entire Forbes story here.

Deneen Borelli

Deneen Borelli is the author of Blacklash: How Obama and the Left are Driving Americans to the Government Plantation. Deneen is a contributor with Newsmax Broadcasting. She is a former Fox News contributor and has appeared regularly on “Hannity,” “Fox & Friends,” “Your World with Neil Cavuto,” and “America’s Newsroom.” She has also appeared on Fox Business Network programs “Making Money with Charles Payne,” “The Evening Edit with Liz MacDonald,” and “Cavuto: Coast to Coast.” Previously, Deneen appeared on MSNBC, CNN, the BBC and C-SPAN. In addition to television, Deneen co-hosted radio programs on the SiriusXM Patriot channel with her husband Tom. Recently, Deneen co-hosted the Reigniting Liberty podcast with Tom. Deneen is a frequent speaker at political events, including the FreedomWorks 9.12.2009 March on D.C. which drew a crowd estimated at over 800,000 people. Deneen is also an Ambassador with, a social media platform that promotes free speech, and with the America First Policy Institute (AFPI) which advances policies that put Americans first. Deneen testified before the U.S. House of Representatives Committee on Natural Resources in May 2011 and before the Ohio House Public Utilities Committee in December 2011. Previously, Deneen was a host, Outreach Director with overseeing its outreach program, a Project 21 Senior Fellow, and Manager of Media Relations with the Congress of Racial Equality (CORE). Prior to joining CORE, Deneen worked at Philip Morris USA for 20 years. During her corporate career at Philip Morris she worked in various positions, her last as Project Management Coordinator in the Information Management department where she was responsible for the department’s mandated quality processes, communications, sales information and database management. Deneen began her Philip Morris career as a secretary and advanced to positions of increasing responsibilities. Deneen worked full-time and attended classes at night for 11 years to earn her B.A. in Managerial Marketing from Pace University, New York City. Deneen served on the Board of Trustees with The Opportunity Charter School in Harlem, New York. She appeared in educational videos for children, worked as a runway fashion model, and auditioned for television commercials. Her interests include ancient history, pistol target shooting, photography, and volunteering at her church. Deneen currently resides in Connecticut with her husband Tom.

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