Solyndra may be bankrupt, but that doesn't mean its California facility is out of commission. Disk-drive maker Seagate is making an offer for the property, the San Jose Mercury News reports.
Seagate has offered $90.3 million to buy the sprawling Solyndra solar-panel factory in Fremont, Calif., the Merc reports. That price is about 70 percent below the $300 million it cost to construct the plant, according to bankruptcy court records cited by the newspaper.
The Obama Administration, via the Energy Department, essentially underwrote the formation of Solyndra with a $535 million loan guarantee.
If Seagate's offer succeed, … Read more