The credit crunch is apparently already having an impact on the renewable energy world.
Solyndra, the secretive maker of copper indium gallium selenide (CIGS) solar cells, in August was trying to raise $350 million
to help build manufacturing facilities. While it may have raised some money, it did not get the full amount, say sources. As a result, Solyndra will restructure the deal.
The company has a 400 plus employees but has yet to produce products in commercial volumes, and it is implementing cost cutting, according to sources. Solyndra does not comment on news stories.
For the past several weeks, VCs and others have predicted that the CIGS market would soon crash