Andrew Evans from The Washington Free Beacon reports the bankruptcy of Flabeg Solar, a mirror manufacturer from PA. The mirror manufacturer’s bankruptcy might severely affect the stability and economic efficiency of some of the solar projects funded by the government. The company has received $19 million in state and federal grants, loans, and tax credits.
Flabeg Solar U.S. Corp., a mirror manufacturer based in Pennsylvania, filed for bankruptcy on Tuesday after it could not afford to pay several former employees their severance packages, the Pittsburgh Post-Gazette reported.
Flabeg is reported to have received millions of dollars in financial assistance from federal and sate governments. Pennsylvania helped the mirror manufacturer build its plant near Pittsburgh with $9 million in grants and loans. The Obama administration awarded Flabeg $10.2 million in tax credits, according to the Post-Gazette.