Free Republic

Shares of the Biden administration-backed Sunnova Energy International Inc. plummeted over 50% after the green energy company announced substantial doubt that it can stay in business on Monday. Barron’s reported that the company’s stock crashed by 64%, down to 60 cents per share, after Sunnova wrote in a statement that its “unrestricted cash, cash flows from operating activities and availability and commitments under existing financing agreements are not sufficient to meet obligations and fund operations.” Sunnova also announced that “substantial doubt exists regarding our ability to continue as a going concern for a period of at least one year from...

Biden energy loan czar Jigar Shah was a major investor in a struggling green energy company that is in advanced talks to receive a $1.5 billion loan from his office. The Department of Energy’s loan office, where Shah serves as director, is working to fast-track the funding to Plug Power, a hydrogen fuel company on the brink of bankruptcy. But the ties between Plug Power and Shah could add to concerns from lawmakers about conflicts of interest in the federal loan program. Securities and Exchange Commission records detail a long-standing financial relationship between Plug Power and Generate Capital, an investment...

An investigation has been launched into the U.S. Department of Energy (DOE) after Democrat President Joe Biden’s administration was found to have sent billions of dollars in taxpayers’ money to a fraudulent solar company. Biden’s DOE recently gave a $3 billion award to a solar energy company that has been accused of scamming vulnerable customers. Republican leaders in the House and Senate are probing the DOE over the move. The investigations are being led by House Energy and Commerce Chair Cathy McMorris Rodgers (R-WA) and Senate Energy and Natural Resources Ranking Member John Barrasso (R-WY). In a letter to DOE...