GAO Faults DOE Green Loan Program's Record-Keeping

Law360, New York (March 12, 2012, 6:05 PM EDT) -- The U.S. Department of Energy isn’t effectively tracking applications for federally guaranteed loans for green energy projects, an error that could hurt management and oversight of the agency’s loan guarantee program, which already has backed more than $15 billion in loans, a government auditor said Monday.

The DOE has made loan guarantees for 7 percent of the 460 applications to the program, and has committed to an additional 2 percent, according to the U.S. Government Accountability Office. However, the GAO said that when it requested data...
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