Posted on 12/11/2021 12:46:12 PM PST by Hojczyk
The Washington Free Beacon reported:
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.
On September 6, 2011, Solyndra, a ‘solar energy startup’ that received a $535 million loan from the Obama Regime, filed for bankruptcy.
(Excerpt) Read more at thegatewaypundit.com ...
First Solar is owned by billionaire Walmart heir Lukas Walton. Walton contributed over $300,000 to resident Joe Biden’s campaign last year, and over $100,000 to the DNC, according to campaign finance records.
REALITY CHECK
<><> First Solar’s chairman testified to Congress that the company was “financially strong,”
but the business was forced to furlough half of its employees at its solar plant near LA weeks later.
<><>Last year, First Solar paid $350 million to settle a shareholder lawsuit brought by two United Kingdom pension funds.
<><>Shareholders claimed First Solar inflated its stock price and misled investors about its finances.
Americans made China great again, by allowing humongous trade deficits year after year, going on for decades now. But the Billionaires in America made great profits by exporting manufacturing to cheaper labor in China.
Call Congress: Stop this giveaway.
US house of representatives switchboard 202-225-3121
US senate switchboard 202-224-3121.
Whether
There is a word in need of ridicule
Why does a Walton need a loan.
They should all be able to finance their business ventures.
I believe his aunt owns a bank.
Thank you. I was thinking the same thing. A Multi Billionaire needing a government loan? SMH
It “pays” to “pay” for corrupt Democrat businessmen!
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