Major concerns have arisen regarding Democrat Governor Michelle Lujan Grisham’s proposed $600 million solar manufacturing initiative. An in-depth front-page report from the Albuquerque Journal has revealed several troubling issues surrounding the company behind this project.
Central to Lujan Grisham’s solar plans, the company is under investigation for violating federal securities laws. In addition to this legal scrutiny, the company has faced significant delays in releasing its financial reports, which has contributed to a substantial drop in its stock price. Perhaps most concerning is that the largest shareholder in the company is now a Chinese-based firm.
“These are some serious red flags, and New Mexico’s elected officials should be demanding real answers before sending millions down this road,” said Larry Behrens, Communications Director for Power The Future. “Of its many flaws, the main problem with the Inflation Reduction Act is that it leaves taxpayers on the hook for footing costs with little to no guarantee of results. And the fact a Chinese company would benefit from any profits only makes it worse. This is just the latest data point to prove the green industry can’t stand up without massive handouts from hardworking New Mexicans.”
The issues with the company have all emerged since Governor Lujan Grisham announced the partnership last August. Additionally, the company has already missed the governor’s promised deadline to break ground on their facility at the beginning of 2024.
Power The Future, a 501c4 non-profit organization dedicated to advocating for American energy workers, has been vocal in its criticism of the deal. Behrens emphasized the need for greater scrutiny and accountability before committing substantial taxpayer funds to the project.
The proposed solar manufacturing deal was initially hailed as a significant step forward in New Mexico’s renewable energy efforts. However, the recent revelations have cast a shadow over the project’s viability and the decision-making process behind it. Critics argue that without thorough vetting and stringent oversight, the state risks investing in a venture that may not deliver the promised economic or environmental benefits.
As the debate continues, New Mexico’s taxpayers and elected officials must carefully weigh the potential risks and rewards associated with the solar manufacturing initiative. The involvement of a Chinese-based company and the company’s current legal and financial troubles only add to the complexity of the decision.
In light of these developments, calls for transparency and due diligence are growing louder. It remains to be seen how Governor Lujan Grisham and her administration will address these concerns and what steps will be taken to ensure that any future investments in renewable energy are both responsible and beneficial for New Mexico’s citizens.
The post Bombshell report reveals huge red flags in Lujan Grisham’s $600M solar deal appeared first on Piñon Post.
Click this link for the original source of this article.
Author: Piñon Post
This content is courtesy of, and owned and copyrighted by, https://pinonpost.com and its author. This content is made available by use of the public RSS feed offered by the host site and is used for educational purposes only. If you are the author or represent the host site and would like this content removed now and in the future, please contact USSANews.com using the email address in the Contact page found in the website menu.