Solyndra gets first U.S. solar loan

The U.S. Department of Energy announced it will give Solyndra Inc. [Fremont, Calif.] a $535 million loan guarantee to build a commercial solar panel manufacturing plant.

The plant would employ thousands of people and is part of U.S. President Barack Obama's plan to create new jobs.

The loan guarantee will be supported through the American Recovery and Reinvestment Act, according to a March 23 UPI.com report.