Are we about to see the failure of another green energy company after it received millions of dollars from the Biden administration?
It appears so and is happening in northern California where SunPower, a firm dedicated to energy storage and solar power is about to go broke. But only after it received more than $8 million in grants from the Department of Energy and the National Aeronautics and Space Administration.
The Securities and Exchange Commission filed a warning of “substantial doubt” about its ability to continue operating, reported Justice Watch.
The watchdog group said what is happening with SunPower is reminiscent of the hundreds of millions of taxpayer dodllars that former President Obma handed out to “failed green energy ventures.” Remember Solyndra? It received $529 million even though the Treasurer Department expressed “serious concerns” about its operations.
As Judicial Watch reported, ” The controversial deal was suspiciously rushed through for a politically connected entrepreneur that raised large amounts for Obama’s campaign. Judicial Watch investigated the Solyndra scandal and sued both the Obama and Biden administrations for records involving the costly back door deals that led to the loss of hundreds of millions of taxpayer dollars.”