A signature Biden law aimed to boost renewable energy. It also helped a solar company reap billions

promised to spend billions of dollars to “save the world” from climate change . One of the largest players in the solar industry was ready.

“Unlike others who routinely spend substantially more lobbying on behalf of Chinese companies that circumvent US laws and deepen strategic vulnerabilities, our interests lie in a diverse, competitive domestic solar manufacturing base supporting American jobs, economic value, and energy security," Widmar said.

Last December, First Solar agreed to sell roughly $650 million of these credits to a tech company — providing a massive influx of cash, courtesy of the U.S. government. A day after the two lawmakers began meeting, Democratic megadonor Jim Simons, an enthusiastic backer of the party's green energy efforts, gave $2.5 million to Schumer’s super PAC, which spends tens of millions of dollars each election season supporting Senate Democrats.

Details included in the case file offer a damning portrait. Investors accused company officials of lying about the scope of a defect that caused panels to fail prematurely, court records state. It was a decision, investors argued, driven by company executives' desire to preserve First Solar's stock price.

Source: News Formal (newsformal.com)

White House Biden Administration First Solar Company Administration Officials Climate Change Records Show Chuck Schumer

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