Biden-Backing Walmart Heir Obtains $500 Million Government Loan for Solar Company • National Legal And Policy Center

Alana Goodman of the Washington Free Beacon reports today that First Solar, owned by Walmart heir Lukas Walton (pictured above), secured a $500 million loan from the US International Development Finance Corporation (DFC) to build a solar module factory in India.

The project was announced by the Biden administration this week.

Walton has donated more than $300,000 to Joe Biden’s presidential campaign and more than $100,000 to the Democratic National Committee.

From Alana’s story:

Ethics watchdogs said the loan raises questions about whether First Solar’s political connections played a role in the DFC’s decision. The federal funding agency, formerly known as the Overseas Private Investment Corporation, has come under fire in the past for funding projects linked to political donors. The loan also comes nine years after the Obama administration was criticized for approving $3 billion in loan guarantees to the same company, funding that Republican lawmakers said the company was not qualified to receive.

“The United States International Development Finance Corporation, formerly known as OPIC, has a history of deals gone wrong by mixing taxpayers’ money with politically connected entities like First Solar,” said Tom Anderson, director of the Government Integrity Project at the National Legal and Policy. Center. “This agency has a history of favoring entities backed by huge political contributors, like First Solar, giving them less scrutiny while prioritizing politically connected projects over entities and individuals who are not politically assets.”

NLPC reported on the First Solar project supported by the Obama administration in 2012.

Comments are closed.