Failed solar company Solyndra may finally sell factory in Page Technology Park, Fremont, CA



Solyndra plant may sell at huge loss
David R. Baker Updated 8:37 p.m.,
Thursday, August 23, 2012

From the San Francisco Chronicle

Solyndra’s factory in Fremont, which closed nearly a year ago as the solar company spiraled into bankruptcy, may sell for just a fraction of what taxpayers invested in it.

But then, that’s not unusual in bankruptcy.

Seagate Technology, a Cupertino company that makes computer hard drives, has reached a tentative agreement to buy Solyndra’s factory and headquarters for $90.3 million, unless someone else swoops in with a better offer. Any sale will require the approval of a bankruptcy court judge.

Solyndra built the facility on Kato Road with $528 million in federal stimulus loans – the first such loans handed out by the Obama administration. In a March 2010 filing with the U.S. Securities and Exchange Commission, before the factory was finished, Solyndra estimated the total cost would hit $738 million. That estimate included land, construction, equipment and startup costs.

Read full article at: http://www.sfgate.com/business/article/Solyndra-plant-may-sell-at-huge-loss-3811513.php#ixzz24fPQh01i

Related article Sept. 2, 2011: Solyndra Goes Bankrupt in Page Technology Park, Fremont, CA

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