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A Spanish solar energy company benefiting from $191 million in financing from the Export-Import Bank declared bankruptcy last month, calling into question whether the embattled agency will see repayment of the tens of millions of dollars in taxpayer-backed loans on its balance sheets.

Abengoa, which operates worldwide, filed for Chapter 15 bankruptcy in U.S. Bankruptcy Court in Wilmington, Del., and has until the end of October to restructure its $16.4 billion of debt.

According to Ex-Im’s records, the bank authorized more than $300 million in loans and loan guarantees to Abengoa and its subsidiaries, with more than a dozen transactions approved from 2007 to 2015.

Of the $316 million in financing Ex-Im authorized, the bank disbursed $191 million to Abengoa and its subsidiaries, its records show. The bank cancelled the remaining $125 million of outstanding credit, an Ex-Im spokesman told The Daily Signal.

Ex-Im’s board of directors approved financing for four loan guarantees—totaling $112.8 million—to an Abengoa subsidiary on June 29. The bank’s charter expired the next day, on June 30, marking the first time Ex-Im has experienced a lapse in its authority in its 81-year history.

According to the bank’s spokesperson, Ex-Im’s exposure to the solar company totals $66.2 million.

With Abengoa’s questionable financial future, some question whether the green energy company will be able to repay the taxpayer-backed financing it received from Ex-Im.

“If they’re going under, they’re not going to repay their loans,” Veronique de Rugy, a senior research fellow at George Mason University’s Mercatus Center, told The Daily Signal.

A spokesman for Ex-Im told The Daily Signal the bank is continuing to work with the company to ensure its outstanding debt is repaid.

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This is what happens when investments are made based on political choices rather than on economic realities. Another of Obama's pie-in-the-sky ventures goes under and guess who is left to pick up the tab. Hint: it's not going to be Obama or Members of Congress who fund this nonsense.