Biden megadonor scores a $500 million federal loan to build a solar factory in India
The Washington Free Beacon reports that First Solar, a solar energy company owned by a Biden megadonor, received a $500 million government loan to build a manufacturing facility in India. The loan raises questions about whether the company’s political clout played any role in the financing decision.
According to the Free Beacon:
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.
As a candidate, President Biden claimed that his energy policies would create “clean energy jobs.” He should have specified that they would be in India, not Indiana.