More Pay for Play… Obama DOE Awarded $400 Million Loan Guarantee to Top Bundler’s Solar Investment Project
Like Solyndra’s George Kaiser, Colorado also features an Obama bundler whose direct investments included a solar company that received $400 million in loan guarantees from an enthusiastic and willing Obama administration.
Obama supporter Pat Stryker, who bundled $87,500 for the president in 2008, is a major investor in Abound Solar, a company that was awarded a $400 million stimulus loan. Obama even bragged about his support for the company in a July 2010 Weekly Address.
President Obama announced that two of America’s most established solar companies are set to receive up to $2 billion in loan guarantees in order to ‘kick-start’ the US solar industry. The plan will provide Abengoa Solar and Abound Solar Manufacturing with the massive investment in order to fund their expansive projects, both of which could drastically change how solar energy is used in the US. (Inhabitat.com)
Obama announced the $2 billion “investment” into green energy projects in his July 3, 2010 Weekly Address.
In fact, today, I’m announcing that the Department of Energy is awarding nearly $2 billion in conditional commitments to two solar companies.
The first is Abengoa Solar, a company that has agreed to build one of the largest solar plants in the world right here in the United States…
The second company is Abound Solar Manufacturing, which will manufacture advanced solar panels at two new plants, creating more than 2,000 construction jobs and 1,500 permanent jobs. A Colorado plant is already underway, and an Indiana plant will be built in what’s now an empty Chrysler factory. When fully operational, these plants will produce millions of state-of-the-art solar panels each year.
Top Obama bundler Pat Stryker owns Bohemian Companies, a major Abound Solar Manufacturing investor. Obama gifted the solar company with a $400 million loan guarantee after the election.
The People’s Press Collective out of Colorado is digging into the story.
Complete Colorado‘s Todd Shepherd first broke ground last September on the pay-to-play implications behind Abound Solar’s $400m Department of Energy loan guarantee touted by President Barack Obama in a July 2010 radio address and its connections to a Democratic Congresswoman seeking reelection and one of the state’s highest-profile Democratic donors.
Shepherd took a look at the political triangulation between former Rep. Betsy Markey (D, CO-4), Colorado billionaire and Colorado Democracy Alliance donor Pat Stryker, and Abound Solar. He noted the direct connection between Stryker’s company–Bohemian Companies–and its investment in Abound Solar, and the push for the DOE loan guarantee by Markey and other key Democrats. The amount of investment, however, was still unclear at that time, but Stryker’s connection to the company was not.
In many of the donations to Democratic candidates, Stryker is listed as “owner” of Bohemian Companies.
Amy Oliver, Shepherd’s colleague at the Independence Institute, followed up on this story earlier this week with an extensive detailing of more of Stryker’s donations to Colorado (and national) Democratic interests, including donations to President Obama, and a deeper connection between Abound Solar and Bohemian Companies.
Free Republic has more on this latest Obama pay for play scandal.
Michelle Malkin shines more light on the solar scandals.