Author Topic: Biden admin facing congressional probe for sending billions to solar company accused of scamming eld  (Read 377 times)

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Offline Elderberry

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Fox News by Thomas Catenacci 12/8/2023

Republican leaders in the House and Senate are probing the Department of Energy (DOE) over its recent $3 billion award to a solar energy company that has been accused of scamming vulnerable customers.

In a letter to DOE Loan Programs Office Director Jigar Shah, the Republicans — House Energy and Commerce Chair Cathy McMorris Rodgers, R-Wash., and Senate Energy and Natural Resources Ranking Member John Barrasso, R-Wyo. — expressed concern about rewarding the Houston-based Sunnova Energy Corporation. They cited reports highlighting how Sunnova has previously scammed and misled consumers.

"We are alarmed about recent, credible reports that Sunnova has racked up numerous consumer complaints, including those alleging troubling sales practices, such as Sunnova pressing elderly homeowners in poor health to sign long-term contracts costing tens of thousands of dollars," they wrote to Shah.

"These reports cite interviews with individuals who struggled to deal with large contracts that their elderly parents signed shortly before passing away as well as state consumer complaints alleging maintenance delays and predatory sales strategies," the letter continued.

In late September, the DOE Loan Programs Office announced that it had closed on a $3 billion partial loan guarantee to Sunnova's Project Hestia which will provide solar and battery storage to low-income individuals, as part of President Biden's sweeping green energy agenda. The agreement marked the federal government's largest commitment ever made to solar power.

The announcement stated that the project will provide loans for clean energy systems for approximately 75,000 to 115,000 homeowners throughout the U.S. and Puerto Rico.

More: https://news.yahoo.com/biden-admin-facing-congressional-probe-152604675.html

Offline mountaineer

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Biden’s Energy Loan Czar Was a Major Investor in a Near-Bankrupt Energy Company. That Company Is Set To Receive $1.5 Billion From His Office
Alana Goodman   
January 5, 2024
Quote
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 firm that Shah founded before joining the Biden administration in 2021. Shah sold his shares in Generate when he entered the government, according to federal disclosure records.

Under Shah’s leadership, Generate loaned over $100 million to Plug Power—one of the firm’s crowning investments, according to its website.

Plug Power repaid the $100 million to Generate at a 9 percent interest rate last December, while it was in negotiations for the DOE funding with Shah’s office, according to corporate disclosure filings.  ...
Washington Free Beacon
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Offline DefiantMassRINO

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This NONSENSE causes higher energy prices and higher taxes.
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