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Brown supports solar business in wake of Solyndra

Mon, 10/10/2011 - 2:06pm
The Associated Press

California Gov. Jerry Brown is vowing to continue investing in solar energy in the wake of the recent Solyndra bankruptcy.

On Monday, Brown attended the opening of the new headquarters of SunEdison, which recently relocated to the San Francisco Bay area. It develops solar power plants as well as commercial and residential projects.

SunEdison opened its offices in Belmont, near Oracle Corp., moving from Maryland and bringing 200 employees with it. The company says it wants to hire 300 more.

Brown says he does not question the wisdom of investing in solar in the wake of Solyndra, a Fremont solar panel manufacturer that recently filed for bankruptcy after taking a half-billion dollar government loan.

The governor says business is a "Darwinian struggle" and that taking risks is an important part of growing the economy.

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