Biden Energy Official Defends $1.6B Grant to Company He Invested In

Jigar Shah, the Biden administration official who approved a staggering $1.6 billion loan to a company he personally invested in, says he has “not a single regret” about the blatant conflict of interest that funneled taxpayer dollars into a failing green energy scheme.

Shah, who led Biden’s Department of Energy (DOE) Loan Programs Office, finalized the massive loan to hydrogen fuel company Plug Power just days before President Donald Trump retook office. The problem? Shah had previously invested $100 million in the company through his green finance firm, Generate Capital, before joining the Biden administration in 2021.

Under Biden, the DOE’s Loan Programs Office (LPO) operated as a taxpayer-funded piggy bank for politically connected green energy companies.

• $400 billion in taxpayer money was handed out to green energy firms during Biden’s presidency.

• The DOE’s own inspector general warned of “significant risk of fraud” in the loan program just weeks before Shah pushed the $1.6 billion Plug Power loan forward.

• Plug Power’s CEO met directly with Shah in May 2021 three days later, DOE staff scheduled another meeting focused on the company’s loan request.

If this sounds familiar, it’s because we’ve seen it before. The Obama-era Solyndra scandal wasted over $500 million in taxpayer money on a now-defunct solar company. The difference now? The Biden administration didn’t just make one bad investment they handed out hundreds of billions in a last-minute spending spree before leaving office.

Plug Power is hardly the clean energy success story Biden’s cronies want you to believe.

• In 2023, the company warned investors it could run out of money within a year due to financial instability.

• Morgan Stanley downgraded Plug Power’s stock, citing a “significant risk around PLUG’s business model.”

• Despite these red flags, Shah pushed through the $1.6 billion loan anyway a parting gift from Biden’s corrupt DOE.

Instead of following ethical guidelines, Shah ignored conflict-of-interest concerns, disregarded warnings from government watchdogs, and threw billions into Biden’s pet projects with no accountability.

President Trump has made it clear that his administration will put an end to the reckless green energy grift. While Biden wasted taxpayer money on failing companies, Trump is focused on unleashing American energy dominance, cutting red tape, and ensuring that taxpayer funds go toward strengthening our economy not padding the pockets of political insiders.

The American people deserve better than another round of Obama-era corruption, and with Trump back in charge, the days of taxpayer-funded green energy fraud are numbered.

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