A solar energy company owned by a Biden megadonor received a $500 million government loan to build a manufacturing facility in India, the Biden administration announced this week, raising questions about whether the company's political clout played any role in the financing decision.
The U.S. International Development Finance Corporation granted the loan to First Solar, which is owned by billionaire Walmart heir Lukas Walton, to build a solar module plant in India. Walton contributed over $300,000 to President Joe Biden's campaign last year, and over $100,000 to the Democratic National Committee, according to campaign finance records.
The loan to First Solar is the "largest single debt financing transaction" issued by the DFC, the agency announced this week. The DFC said the investment in the India project will "promote DFC's commitment to diversifying supply chains," following demands from lawmakers that the agency avoid funding any solar projects connected to forced labor in China.
Ethics watchdogs said the loan raises questions about whether First Solar's political connections played a role in the DFC's decision. The federal financing agency, which was formerly known as the Overseas Private Investment Corporation, has faced criticism in the past for funding projects linked to political donors. The loan also comes nine years after the Obama administration came under fire for approving $3 billion in loan guarantees to the same company—funding that Republican lawmakers alleged the company wasn't qualified to receive.
read more here: https://freebeacon.com/biden-administration/biden-megadonor-scores-500-million-federal-loan-for-solar-company/
Replies
I remember when fuhrer obama gave $550 million to his cronies and they immediately started tossing pallet loads of solar panels in dumpsters, shut the company down, and disappeared to live a life of luxury!!!!!!!!!! The same thing will happen again, communists get rich on the baxcks of We the People!!!!!!!!!!
Communists LOOTING the country as threy come to power?..............I'm shocked!!!!!
In short, the American tax payer is paying to put themselves out of work. Sounds like Clinton's NAFTA
Solyndra revisited. This money, the company borrowing it, the participantes will all disappear just as before. And MSM, possessing neither journalistic curiosity nor integrity, will hype it's "greenness" in the beginning and totally ignore it's failure and concomitant graft. We the taxpayers are being played for suckers while being ripped off by an arrogant Dem controlled Congress.
THE SWAMP BACK WORKING AS PLANNED-!!! CONTROL- POWER- and LOT'S, LOT'S OF MONEY come on in Family and Friends, get your FAIR SHARE-!!!
Expect them to bankrupt soon - remember S
Expect them to go bankrupt soon. Remeber Soylendra!
Martha, I remember solyndra, fuhrer obama gave them $550 million and they immediately dumped pallets full of solar panels into dumpsters, shut down, and disappeared to live a life of luxury on the backs of working Americans!!!!! This is going to happen again, the wealthy libtards getting richer from devildemocommiecrats!!!!!!!!!
Can you say SOLYNDRA SCANDAL 2.0?
Here we go again, remember they did this in Arizona during the reign of the POS!
What is POS?
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