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Holy Solyndra, Batman….Joe Biden is a Joker, Loans Solar Company $500 Million to Build a Factory in India

For those of you who do not remember, Solyndra was a green energy company owned by a Barack Obama megadonor who was able to secure a $535 million dollar loan with help from the White House that went belly up. Unlike every previous loan given by the US government whereby in case of bankruptcy, the taxpayers got their money back first, Obama waived that and allowed his donor to recoup his money first.

The taxpayers lost all $535 million of the loan. Now, Joe Brandon has loaned First Solar $500 million to build a plant in India. Silly me. I would have thought a plant built with American taxpayer money should be built in the United States by American construction workers. And later manned by American workers. I forgot we were operating under Brandon’s America Last Plan.

And how will Democrats handle it after Biden loses the money? Look how they handled the price of gasoline. After Biden’s policies drove up the cost of gasoline by $1.31 a gallon,  They then praised the heck out of Biden when the price went down four cents a gallon. I can see it now. First Solar loses the money and Democrats spike the ball because Biden saved taxpayers $35 million over Solyndra.

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.

 

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