California-Based Green Energy Company That Received Millions From Biden Regime Failing | The Gateway Pundit


solar farm; stock photo

A green energy company that received millions of dollars from the Biden Regime is failing.

Shares of SunPower, a California-based residential solar company, plunged on Monday as the company warned it may not survive.

“Shares of SunPower Corporation (SPWR) are falling over 35% Monday morning after a recent regulatory filing showed the company felt there was “substantial doubts” about whether or not it could continue to operate. In addition, the company breached a key term in a credit agreement that could prompt lenders to recall certain loans.” Yahoo Finance reported.

SunPower received millions of dollars from the Biden Regime over the past year.

“Last summer the Department of Energy (DOE) gave it a $6.7 million grant and earlier this year it received a $1.4 million contract from the National Aeronautics and Space Administration (NASA). This week SunPower shares are down sharply following a Securities and Exchange Commission (SEC) filing warning of “substantial doubt” about its ability to continue operating.” Judicial Watch reported.

Recall that SunPower received taxpayer money during the Obama years.

Obama spent at least $39 billion a year on his green energy projects, according to the Institute for Energy Research.

At least 36 of Obama’s taxpayer-funded green energy projects went belly up – Solyndra being the biggest green scam of all.

FOX Nation reported in 2015:

The complete list of faltering or bankrupt green-energy companies:

Evergreen Solar ($25 million)*
SpectraWatt ($500,000)*
Solyndra ($535 million)*
Beacon Power ($43 million)*
Nevada Geothermal ($98.5 million)
SunPower ($1.2 billion)
First Solar ($1.46 billion)
Babcock and Brown ($178 million)
EnerDel’s subsidiary Ener1 ($118.5 million)*
Amonix ($5.9 million)
Fisker Automotive ($529 million)
Abound Solar ($400 million)*
A123 Systems ($279 million)*
Willard and Kelsey Solar Group ($700,981)*
Johnson Controls ($299 million)
Schneider Electric ($86 million)
Brightsource ($1.6 billion)
ECOtality ($126.2 million)
Raser Technologies ($33 million)*
Energy Conversion Devices ($13.3 million)*
Mountain Plaza, Inc. ($2 million)*
Olsen’s Crop Service and Olsen’s Mills Acquisition Company ($10 million)*
Range Fuels ($80 million)*
Thompson River Power ($6.5 million)*
Stirling Energy Systems ($7 million)*
Azure Dynamics ($5.4 million)*
GreenVolts ($500,000)
Vestas ($50 million)
LG Chem’s subsidiary Compact Power ($151 million)
Nordic Windpower ($16 million)*
Navistar ($39 million)
Satcon ($3 million)*
Konarka Technologies Inc. ($20 million)*
Mascoma Corp. ($100 million)

Source link