(CNN) – The federal government is poised to recoup 70 cents on the dollar for a clean energy loan made to Beacon Energy after it filed for bankruptcy last fall.
The $43 million investment in the energy storage company, of which the government expects about a 70 percent return, is expected to be paid both in cash and debt, the company is purchased by private equity firm Rockland Capital.
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Some Republicans compared this loan guarantee to one provided to Solyndra, and the House Oversight and Investigations Subcommittee said it would investigate this and similar loans. The Department of Energy, which provided the loan guarantee, said the two scenarios were different, and the White House ordered an investigation in October.
"The Department is pleased that this agreement improves the prospect of recovering taxpayer funds," Department of Energy spokesman Damien LaVera said in a statement.